Takenson Corp -Refer to Information for Takenson Corp

question 95

Multiple Choice

Takenson Corp.is a merchandising company that uses the periodic inventory system.Selected account balances are listed below: $$\begin{array} { l r } \text { Sales } & \$ 500,000 \\\text { Purchases } & 225,000 \\\text { Inventory (beginning) } & 16,000 \\\text { Inventory (ending) } & 30,000 \\\text { Operating Expenses } & 148,000 \\\text { Income Tax Expense } & 10,000 \\\text { Retained Earnings (beginning) } & 53,000 \\\text { Dividends } & 15,000\end{array}$$
-Refer to information for Takenson Corp. Calculate the cost of goods sold for Takenson Corp.

• A) $275,000
• B) $211,000
• C) $241,000
• D) $259,000

---

Definitions:

Innovation

The process of creating new ideas, products, or methods, often leading to the improvement of goods, services, or processes.

Primary Activity

In business, it refers to the core activities that are central to the operations of a company, directly related to the creation and delivery of its products or services.

Human Resource Management

The strategic approach to the effective management of people in a company or organization, aiming to help the business gain a competitive advantage.

Procurement

Involves the strategic acquisition of necessary goods and services for organizational operations, emphasizing cost-effectiveness and efficiency.