Use the Following Information Regarding Black Company and Red Company

question 111

Multiple Choice

Use the following information regarding Black Company and Red Company to answer the question "Which of the following is Red Company's "cost of goods sold" for 2022 (to the closest dollar) ?" $$\begin{array}{l}\begin{array} { | l | c | c | c | } \hline & \text { Year } & \begin{array} { c } \text { Inventory } \\\text { Turnover }\end{array} & \text { Ending Inventory } \\\hline \text { Black Company } & 2020 & & \$ 26,340 \\\hline & 2021 & 8.7 & \$ 29,890 \\\hline & 2022 & 8.4 & \$ 30,100 \\\hline\\\hline \text { Red Company } & 2020 & & \$ 25,860 \\\hline & 2021 & 7.0 & \$ 24,750 \\\hline & 2022 & 7.5 & \$ 22,530 \\\hline\end{array}\end{array}$$

• A)$260043
• B)$189788
• C)$168975
• D)$177300

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Definitions:

Nondeclarative Memories

Nondeclarative memories involve knowledge or skills one can express through performance rather than conscious recollection, such as riding a bike or playing an instrument.

Declarative Memories

Recollections accessible to our conscious mind, comprising knowledge and events.

Semantic Memory

Semantic memory refers to a portion of long-term memory that processes ideas and concepts that are not drawn from personal experience, such as facts, meanings of words, and general knowledge of the world.

Declarative Memories

Recollections that are accessible to conscious awareness, including information and occurrences.