Owens Janitor Supply Has the Following Account Balances at the End

question 127

Multiple Choice

Owens Janitor Supply has the following account balances at the end of the current accounting period. $\begin{array}{|l|c|}\hline \text { Beginning inventory } & \$ 50,000 \\\hline \text { Net purchases } & 400,000 \\\hline \text { Net sales revenue } & 500,000\\\hline \end{array}$ A normal gross profit percent is 40%.What is the Estimated ending inventory as determined by the gross profit method?

• A) $150,000
• B) $50,000
• C) $200,000
• D) $300,000

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Definitions:

Intersectionality

A theoretical framework for understanding how aspects of a person's social and political identities (such as race, gender, class, sexuality, disability, etc.) combine to create different modes of discrimination and privilege.

Distinctive Standpoint

A unique or particular perspective that reflects the specific experiences, values, and beliefs of an individual or group.

Oppression

A system of inequality and injustice where one group exercises power over another through discrimination, marginalization, and exploitation.

Karl Marx

A 19th-century philosopher, economist, and revolutionary socialist whose works are the foundation of the body of thought known as Marxism.