Included in the Amounts for Pot's Sales Were Pot's Sales

question 114

Multiple Choice

Included in the amounts for Pot's sales were Pot's sales for merchandise to Skillet for $140,000.There were no sales from Skillet to Pot.Intra-entity transfers had the same markup as sales to outsiders.Skillet had resold all of the intra-entity transfers (purchases) from Pot to outside parties during 2018.What are consolidated sales and cost of goods sold for 2018?

• A) $1,400,000 and $952,000.
• B) $1,400,000 and $1,092,000.
• C) $1,540,000 and $952,000.
• D) $1,400,000 and $1,232,000.
• E) $1,540,000 and $1,092,000.

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Definitions:

Milgram Experiment

A psychological experiment conducted by Stanley Milgram in the 1960s to study obedience to authority, where participants were instructed to administer electric shocks to another person.

Stanford University Prison Experiment

A psychological study conducted by Philip Zimbardo in 1971 at Stanford University, where students were assigned roles of prisoners and guards to explore the effects of perceived power.

Generalization

Drawing a conclusion about a certain characteristic of a population based on a sample from it.

Logical Support

The provision of reasons or evidence to justify a claim or argument.