During a Year, Small Wears Ltd

question 172

Multiple Choice

During a year, Small Wears Ltd. (whose usual gross margin rate on sales is 30 percent) recorded sales of $10,000 and goods available for sale of $12,000. The cost of its ending inventory can be reliably estimated at:

• A) $2,000
• B) $5,000
• C) $7,000
• D) $10,000

---

Definitions:

Outsourcing

The practice of delegating certain job functions or tasks to outside parties or companies.

Human Relations

Refers to the interactions between employers and employees and the ways in which they establish and manage relationships in the workplace.

Chief Hospital Administrator

The highest-ranking official in a hospital, responsible for overseeing all administrative and operational aspects.

Night Shift

A work shift that takes place during the nighttime hours, often starting late in the evening and ending early in the morning.