Use the Following Information for the Next 5 Questions

question 131

Multiple Choice

Use the following information for the next 5 questions.
Kelita, Inc., projects sales for its first three months of operation as follows: Inventory on October 1 is $40,000. Subsequent beginning inventories should be 40% of that month's cost of goods sold. Goods are priced at 140% of their cost. 50% of purchases are paid for in the month of purchase; the balance is paid in the following month. It is expected that 50% of credit sales will be collected in the month following sale, 30% in the second month following the sale, and the balance the third month. A 5% discount is given if payment is received in the month following sale.
-What is the projected cost of goods sold for October?

• A) $140,000
• B) $220,000
• C) $257,000
• D) $100,000

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Definitions:

Mini Nutritional Assessment

A screening tool used to identify nutritional problems and undernutrition in older adults.

Nutritional Status

The condition of the body in terms of the intake, absorption, and utilization of nutrients, influencing overall health and well-being.

Objective Tool

Refers to instruments or methods used to gather or measure data that are not influenced by personal feelings or opinions.

Body Mass Index (BMI)

A numerical calculation using height and weight to estimate body fat and determine weight categories that may lead to health problems.