A Retail Store Has Beginning Inventory of $60,000,purchases of $440,000,sales

question 27

Multiple Choice

A retail store has beginning inventory of $60,000,purchases of $440,000,sales of $400,000,and a normal gross margin of 25 percent.What is estimated inventory based on these facts and the gross profit method?

• A) $100,000
• B) $300,000
• C) $200,000
• D) $400,000

---

Definitions:

Speaker

An individual who conveys information or expresses ideas through verbal communication in various settings.

Positive Reinforcement

A method in behavior theory where the introduction of a rewarding stimulus following a desired behavior increases the likelihood of it happening again.

Approval

The act of agreeing with or accepting something as satisfactory.

Activities

Tasks, operations, or processes that individuals or groups engage in, often towards achieving a goal.