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:

Social Audit

An evaluation of a company's social responsibility and its impact on society and the environment.

Cause Marketing

A marketing strategy where a non-profit entity and a for-profit company collaborate for shared advantages.

Charitable Contributions

Voluntary donations made by individuals or organizations to nonprofit entities as a form of social responsibility.

Green Marketing

The promotion of environmentally friendly products and practices to gain a competitive edge in the market.