FAD Company Uses a Periodic Inventory System and Its Inventory

question 69

Multiple Choice

FAD Company uses a periodic inventory system and its inventory records for the period contain the following information:

-Use the information above to answer the following question.The journal entry necessary at the end of the period to transfer beginning inventory and net purchases to cost of goods sold will include which of the following?

• A) Credit Inventory for $6,250
• B) Debit Purchases for $11,250
• C) Debit Inventory for $6,250
• D) Debit Cost of Goods Sold for $11,250

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Definitions:

Reinforced

In psychology, refers to the process of strengthening a behavior by providing a consequence that will increase the likelihood of the behavior's recurrence.

Shaping

A method of behavior training in which successive approximations toward a desired behavior are reinforced.

Complex Tricks

Specialized, often difficult techniques or strategies used to accomplish tasks or solve problems.

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Birds that are often used in research for studying learning, memory, and navigation, known for their remarkable homing ability.