Friends Company Had the Following Data Available The Ending Inventory of Finished Goods Is:
A) $292,000
B)

question 126

Multiple Choice

Friends Company had the following data available: $\begin{array}{ll}\text { Beginning direct- materials inventory } & \$ 26,000 \\\text { Beginning WIP Inventory } & 64,000 \\\text { Beginning finished goods inventory } & 58,000 \\\text { Direct material s purchased on account } & 148,000 \\\text { Direct material s requisitioned } & 82,000\\\text { Direct-lab or cost incurred } & 130,000 \\\text { Factory overhe ad incurred } & 146,000 \\\text { Cost of goods completed } & 292,000 \\\text { Cost of goods sold } & 256,000 \\\text { Overhead application rate } & 125 \% \\\text { (as a percent of direct- labor cost) } &\end{array}$ The ending inventory of finished goods is:

• A) $292,000
• B) $94,000
• C) $58,000
• D) $36,000

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Definitions:

Unconditioned Response

An automatic and natural response that occurs in reaction to a stimulus without the need for prior learning.

Knee-Jerk Response

An automatic or reflexive reaction to a situation or stimulus, without engaging in deeper thought.

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Extinction

The process in which a species, family, or larger group of organisms ceases to exist.