At the End of 2016,a Company Reported Cost of Goods

question 16

Multiple Choice

At the end of 2016,a company reported cost of goods sold of $4,800,which represented 80% of the goods available for sale.The beginning inventory amount was twice as much as the ending inventory amount.What was the amount of purchases for 2016?

• A)$1,200
• B)$2,400
• C)$3,600
• D)$5,400

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Definitions:

Conceptualized

The process of forming a concept or idea by integrating various elements and perspectives into a coherent whole.

State-Dependent Learning

A phenomenon that memory retrieval is most efficient when an individual is in the same state of consciousness as they were when the memory was formed.

Context Attribute

The context in which an event occurred, which can be a retrieval cue

Context Cues

Environmental or situational indicators that affect how behaviors and responses are displayed or interpreted.