The Following Information Was Provided by Grand Company for the Year

question 105

Multiple Choice

The following information was provided by Grand Company for the year just ended:
$\begin{array}{|l|r|}\hline \text { Decrease in finished goods inventory } & \$ 4,655 \\\hline \text { Sales } & \$ 500,000 \\\hline \text { Gross margin } & \$ 100,000 \\\hline\end{array}$
What was the cost of goods manufactured for the year?

• A) $95,345.
• B) $104,655.
• C) $395,345.
• D) $404,655.

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Definitions:

Organized Labor

Groups of workers united in trade unions or similar organizations to protect their rights and advocate for better conditions and wages.

Hiram Johnson

An American political leader known for his progressive reforms as the Governor of California and later as a U.S. Senator.

Hoke Smith

An American politician and newspaper publisher from Georgia, known for his service as Governor of Georgia and as U.S. Secretary of the Interior.