The Following Information Is Available for the Williston Company for the Month

question 99

Essay

The following information is available for the Williston Company for the month ended September 30:
$\begin{array}{lc}\text { Inventory, September 1 } & \$ 600,000 \\\text { Purchases } & 2,250,000 \\\text { Freight In } & 150,000 \\\text { Sales } & 3,200,000\end{array}$ The gross margin was 40 percent of sales. What is Williston's estimated inventory balance at September 30?

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Definitions:

Faulty Thinking

Cognitive distortions or irrational thought patterns that can lead to misconceptions and unhealthy conclusions.

Learning

The process of acquiring new understanding, knowledge, behaviors, skills, values, or preferences, often resulting from study, instruction, or experience.

Academic Performance

The extent to which a student, teacher, or institution has achieved their short or long-term educational goals.

Daydreams In Class

Occur when an individual's attention drifts from the immediate task to internal thoughts or fantasies, often happening during lectures or study sessions.