A Company That Uses the Periodic Inventory Method Provides the Following

question 150

Multiple Choice

A company that uses the periodic inventory method provides the following information:
$\begin{array} { l r } \text { Beginning inventory } & \$ 4,000 \\\text { Net Purchases } & \$ 85,000\end{array}$
At the end of the period,the company does an inventory count and finds $9,000 of inventory on hand.
How much is the Cost of goods sold?

• A) $98,000
• B) $72,000
• C) $80,000
• D) $90,000

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Definitions:

Us-Them Hostility

A psychological and social phenomenon where in-group members harbor negative attitudes and feelings towards out-group members, often leading to conflict and discrimination.

Contact Hypothesis

A theory suggesting that under certain conditions, interpersonal contact is one of the most effective ways to reduce prejudice between majority and minority group members.

Stereotype Bias

The tendency to form oversimplified and generalized views about a group of people, leading to prejudiced attitudes and behaviors.

Cultural Cause

Factors within a society's culture, such as beliefs, norms, and values, that can influence individuals' behaviors and societal outcomes.