A Company That Uses the Periodic Inventory Method Provides the Following

question 141

Multiple Choice

A company that uses the periodic inventory method provides the following information: At the end of the period, the company does an inventory count and finds $16 000 of inventory on hand. How much is the Cost of sales?

• A)$111 200
• B)$108 000
• C)$104 800
• D)$128 800

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Definitions:

Lower South

Geographical region of the United States, often referencing the states most dependent on slave labor and that seceded first during the Civil War.

Eighteenth Century

The period from 1701 to 1800 in the Gregorian calendar, marked by significant historical events, cultural shifts, and advancements in various fields such as science and philosophy.

Spain

A country on Europe's Iberian Peninsula known for its diverse culture, history, and contributions to art, music, and literature.

Black Town

Historically, a town or community predominantly inhabited by African Americans, often established by freed slaves during and after the period of slavery in the United States.