TNT Inc Had an Inventory Balance of $19,000 on January 1

question 36

Multiple Choice

TNT Inc. had an inventory balance of $19,000 on January 1, and $23,500 on December 31. The cost of goods sold during the period was $25,250. What is the purchase amount?

• A)$4,500
• B)$1,750
• C)$29,750
• D)$34,250

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Definitions:

High Conscientiousness

A personality trait characterized by diligence, carefulness, and thoroughness.

Internal Control

A process designed to assure the efficiency of operations, reliability of reporting, and compliance with laws and regulations within an organization.

Burnout

A state of physical, emotional, and mental exhaustion caused by prolonged exposure to stress, particularly in the workplace.

American Psychological Association

A professional organization representing psychologists in the United States, dedicated to advancing the creation, communication, and application of psychological knowledge to benefit society.