Given the Following for a Company: Sales $80,000, Beginning Inventory

question 23

Multiple Choice

Given the following for a company: sales $80,000, beginning inventory $5,000, purchases $21,800, purchase discounts $790, ending inventory $5,100, find the company's cost of merchandise sold.

• A)$21,560
• B)$20,190
• C)$20,910
• D)$21,650
• E)None of these

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Definitions:

ERP

Enterprise Resource Planning, a type of software that organizations use to manage day-to-day business activities such as accounting, procurement, project management, and manufacturing.

Custom-Write

A method or process tailored to create or generate content according to specific requirements or needs.

Prewritten Application

Software applications that are developed for sale or distribution to multiple users or organizations, as opposed to being custom-made for specific users.

Outsource

The practice of hiring third parties to perform tasks, handle operations or provide services for a company.