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:

Digestive Tract

The series of organs in the digestive system through which food passes, nutrients are absorbed, and waste is eliminated.

Hunger Signals

Biological cues sent by the body to indicate the need for food intake.

Set Point

A theory suggesting that the body regulates its weight and body fat level with internal mechanisms, aiming to keep body weight at a predetermined, stable level.

Basal Metabolic Rate

The velocity at which the body expends energy in a resting state to keep up primary functions, including breathing and staying warm.