Hershey, PA, a Factory Town, Was Different from Urban Factories

question 19

Multiple Choice

Hershey, PA, a factory town, was different from urban factories in that chocolatier Milton Hershey endeavored to provide ______ for the employees and families of the Hershey company and factory.

• A) month long vacations as those in European companies
• B) good schools and adequate housing
• C) managerial positions for women
• D) free chocolate and confectionaries

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Definitions:

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including material, labor, and overhead expenses.

Beginning Inventory

The worth of merchandise on hand ready to be sold at the beginning of a financial period.

Merchandise Purchases

Transactions involving the buying of goods for resale purposes, typically in a retail or wholesale setting, which will either be sold as is or used in the production process.

Lower of Cost or Market

An accounting principle requiring inventory to be recorded at the lower of its original cost or its current market value.