In the Accompanying Figure, Which Callout Points to the Area

question 9

Multiple Choice

In the accompanying figure, which callout points to the area you should click in the worksheet to exit Header/Footer mode?

• A) E
• B) G
• C) C
• D) F

---

Definitions:

Beginning Inventory

The price of items on offer for purchase at the onset of an accounting cycle.

Markup

An addition to the purchase cost of items intended to cover both operational costs and generate a profit.

Net Sales

The revenue from sales transactions after subtracting returns, allowances for damaged or missing goods, and discounts.

Average Inventory

Calculated by adding the value of the inventory at the beginning and end of a period and dividing by two, reflecting an average amount of inventory held over the period.