The Following Information Is Available for the Segura Company for the Three

question 86

Multiple Choice

The following information is available for the Segura Company for the three months ended June 30: $\begin{array}{ll}\text { Inventory, April 1 } & \$ 1,200,000 \\\text { Purchases } & 4,500,000 \\\text { Freight In } & 300,000 \\\text { Sales } & 6,400,000\end{array}$ The gross margin was 25 percent of sales. What is the estimated inventory balance at June 30?

• A) $880,000
• B) $933,000
• C) $1,200,000
• D) $1,500,000

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Definitions:

Pay Ranges

A set of compensation levels that define the minimum and maximum amounts of pay an organization is willing to offer for specific positions or job categories.

Pay Differentials

The variations in pay for different jobs or skills within a company or in different geographical locations.

Fair Labor Standards Act

United States federal law that establishes minimum wage, overtime pay eligibility, recordkeeping, and child labor standards affecting full-time and part-time workers in the private sector and in federal, state, and local governments.

Minimum Wage

The lowest legal hourly pay that employers can compensate workers, established by law to ensure a minimum standard of living for employees.