Manning Company Updates Its Inventory Periodically

question 88

Multiple Choice

Manning Company updates its inventory periodically.The company's beginning inventory was $2,700 and purchases were $5,600 during the year.The company's ending inventory count was $5,000.What was the amount of its cost of goods sold?

• A) $3,300
• B) $8,300
• C) $13,300
• D) $2,100

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Definitions:

Sympatric Speciation

The process of speciation occurring within the same geographical area, where new species evolve from a single ancestral species while inhabiting the same geographic region.

Animal Species

A group of animals that share genetic similarities, can interbreed and produce fertile offspring.

Female Preference

In evolutionary biology, the behavioral tendency of females to choose certain males as mates, based on traits that indicate genetic fitness.

Showy Colors

Bright and conspicuous colors often found in animals and plants, typically used for attracting mates, warning predators, or other signaling purposes.