Dobler Company Uses a Periodic Inventory System

question 4

Multiple Choice

Dobler Company uses a periodic inventory system. Details for the inventory account for the month of January 2014 are as follows: An end of the month (1/31/2014) inventory showed that 160 units were on hand. How many units did the company sell during January 2014?

• A) 60
• B) 160
• C) 200
• D) 240

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Definitions:

Client's Funds

Money that belongs to clients and is held in trust by attorneys or other professionals, to be used for specific client-related purposes.

Law Firm's Funds

Financial resources controlled by a law firm, including operating capital, client funds, and escrow accounts.

Overhead Expenses

Overhead Expenses refer to ongoing business expenses not directly tied to creating a product or service but necessary for running the business, such as rent, utilities, and salaries.

Personal Transportation

Means of conveyance for individuals or small groups, typically for private use, such as cars, bicycles, or personal mobility devices.