Lionworks Enterprises Had the Following Inventory Data

question 11

Multiple Choice

Lionworks Enterprises had the following inventory data:

Assuming average cost,what is the cost of goods sold for the July 7 sale?

• A)$642
• B)$654
• C)$648
• D)$645

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Definitions:

2 × 3 ANOVA

A statistical test that analyzes the effects of two independent variables on a dependent variable, where the first variable has two levels and the second has three levels.

Null Hypotheses

The hypothesis that assumes no significant difference or relationship exists between specified populations or variables, used as a starting point for statistical testing.

2 × 2 Factorial ANOVA

A special case of factorial ANOVA that tests the effect of two independent variables, each having two levels, on a continuous dependent variable.

SES

Socioeconomic status, typically referring to an individual's or group's economic and social position in relation to others, based on income, education, and occupation.