Media Is Watching the Summer Olympics, and When They Go

question 12

Multiple Choice

Media is watching the summer Olympics, and when they go to commercial, she sees the five Olympic Rings logo flash on the TV. She knows that there are five separate rings that are interlocked, but she tends to perceive the image as a complete whole. This is likely because of the Gestalt principle of

• A)figure-ground discrimination.
• B)synchrony.
• C)common region.
• D)common fate.

---

Definitions:

Retail Inventory Method

An accounting method used by retailers to estimate inventory value by converting retail prices to cost, often used for financial reporting and determining cost of goods sold.

Selling Prices

The set price at which goods and services are sold to customers, determined by factors such as cost, competition, and demand.

Ending Inventory

The cost of merchandise ready to be sold at the close of an accounting cycle, found by taking the initial inventory, adding purchases, and subtracting the cost of goods sold.

Inventory Valuation

The method used to assign a monetary value to inventory, which affects the cost of goods sold and gross profit.