Delta Merchandising,Inc What Was the Ending Inventory for the Company at Year-End

question 65

Multiple Choice

Delta Merchandising,Inc.,has provided the following information for the year just ended:
$\begin{array}{|l|r|}\hline \text { Net sales } & \$ 128,500 \\\hline \text { Beginning inventory } & \$ 24,000 \\\hline \text { Purchases } & \$ 80,000 \\\hline \text { Gross margin } & \$ 38,550 \\\hline\end{array}$
What was the ending inventory for the company at year-end?

• A) $65,450.
• B) $24,500.
• C) $14,050.
• D) $9,950.

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Definitions:

Wages

Payments made to employees by employers, typically based on the number of hours worked or a fixed amount for a certain job.

Quantity of Labor

The total hours worked or the number of employees engaged in production within a certain period.

Unit Elastic

A situation where a change in price leads to an equal proportional change in the quantity demanded or supplied.

Price Elasticity

An assessment that depicts how variations in the price of a good affect the quantity of it that consumers want.