The Following Data (In Thousands of Dollars) Have Been Taken

question 16

Multiple Choice

The following data (in thousands of dollars) have been taken from the accounting records of Karling Corporation for the year just ended.
$\begin{array}{|l|r|}\hline \text { Sales } & \$ 990 \\\hline \text { Raw materials inventory, beginning } & \$ 40 \\\hline \text { Raw materials inventory, ending } & \$ 70 \\\hline \text { Purchases of raw materials } & \$ 120 \\\hline \text { Direct labour } & \$ 200 \\\hline \text { Manufacturing overhead } & \$ 230 \\\hline \text { Administrative expenses } & \$ 150 \\\hline \text { Selling expenses } & \$ 140 \\\hline \text { Work-in-process inventory, beginning } & \$ 70 \\\hline \text { Work-in-process inventory, ending } & \$ 50 \\\hline \text { Finished goods inventory, beginning } & \$ 120 \\\hline \text { Finished goods inventory, ending } & \$ 160 \\\hline\end{array}$

-What was the cost of goods sold (in thousands of dollars) for the year?

• A) $700.
• B) $500.
• C) $660.
• D) $580.

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Definitions:

Social Media

Digital platforms that facilitate the creation and sharing of information, ideas, and other forms of expression via virtual communities and networks.

Information-Carrying Capacity

The maximum amount of information that a particular medium or channel can effectively convey to the receiver.

Computer-Mediated Groups

Teams or collections of individuals who interact and communicate primarily through electronic means, such as email, social media, and other digital channels.

Face-To-Face Groups

Small groups of individuals who interact directly and personally with each other, typically in the same physical location.