An Ore Sample Is Found to Contain 10

question 26

Multiple Choice

An ore sample is found to contain 10.500000 g of cobalt and 87.3 g waste rock (gangue) .What is the percent by mass of cobalt in the ore?

• A)10.7 %
• B)12.114 %
• C)0.107 %
• D)0.12228 %
• E)1.2879 %

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Definitions:

Average Cost Method

An inventory costing method that assigns the average cost of all similar items in inventory to the cost of goods sold and to ending inventory.

Cost Of Goods Sold

Represents the direct costs attributable to the production of the goods sold in a company, including materials and labor.

Ending Inventory

The total value of goods available for sale at the end of an accounting period.

Quantity Discount

A reduction in price given by a seller to a buyer for purchasing a larger quantity.