Axle IncUpdates Its Inventory Perpetually

question 38

Multiple Choice

Axle Inc.updates its inventory perpetually.Its beginning inventory is $35,000,goods purchased during the period cost $120,000,and the cost of goods sold for the period is $140,000.What is the amount of the ending inventory?

• A) $45,000
• B) $20,000
• C) $25,000
• D) $15,000

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Definitions:

Dividends Per Share

This is the amount of dividends paid to shareholders per existing share, illustrating the dividend payout on a per share basis.

Provincial Marginal Tax Rate

The Provincial Marginal Tax Rate is the tax rate that applies to the last dollar earned and varies by province within a country.

Marginal Tax Rates

The tax rate applied to the last unit of currency earned, important for understanding the tax implications of earning additional income.