The Following Data Is Available -Using the Gross Profit Method,the Estimated Ending Inventory Balance Would

question 8

Multiple Choice

The following data is available: $$\begin{array} { | r | r | } \hline \text { Net sales, first month } & \$ 13,000 \\\hline \text { Normal gross profit } & 45 \% \\\hline \text { Beginning inventory } & 8,000 \\\hline \text { Net purchases } & 7,000 \\\hline\end{array}$$
-Using the gross profit method,the Estimated ending inventory balance would be:

• A) $15,000.
• B) $7,150.
• C) $7,850.
• D) $5,850.

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Definitions:

Spermatogenesis

The process by which spermatozoa are produced from male primordial germ cells by way of mitosis and meiosis.

Oogenesis

Oogenesis is the process by which the female gametes, or ova, are produced in the ovaries through a series of differentiation and maturation stages.

Haploid Gametes

Haploid gametes are sex cells, such as sperm and eggs, that contain a single set of chromosomes and unite during fertilization to form a diploid zygote.

Testis

A male reproductive organ responsible for producing sperm and testosterone.