If $6,700 Was the Beginning Inventory, Purchases Were $12,000 and Sales

question 118

Multiple Choice

If $6,700 was the beginning inventory, purchases were $12,000 and sales were $6,000. How much was ending inventory last accounting period?

• A) $12,700
• B) $6,700
• C) $0
• D) $6,000

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Definitions:

Subordinating Goals

The objective of making certain goals less important or secondary to other primary objectives.

Concrete Goals

Specific, clearly defined, and measurable objectives that are aimed to be achieved within a fixed timeframe.

Measurable Goals

Specific, quantifiable, achievable, relevant, and time-bound objectives that can be tracked and evaluated.

Distributive Strategy

is a negotiation approach that views the situation as a fixed pie where any gain by one party results in a loss by the other, leading to competitive bargaining tactics.