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

question 29

Multiple Choice

The following data (in thousands of dollars) have been taken from the accounting records of Karlist Corporation for the just completed year.
$\begin{array} { | l | r | } \hline \text { Sales } & \$ 800 \\\hline \text { Raw materials inventory, beginning } & \$ 60 \\\hline \text { Raw materials inventory, ending } & \$ 70 \\\hline \text { Purchases of raw materials } & \$ 180 \\\hline \text { Direct labour } & \$ 100 \\\hline \text { Manufacturing overhead } & \$ 190 \\\hline \text { Administrative expenses } & \$ 110 \\\hline \text { Selling expenses } & \$ 150 \\\hline \text { Work-in-process inventory, beginning } & \$ 70 \\\hline \text { Work-in-process inventory, ending } & \$ 80 \\\hline \text { Finished goods inventory, beginning } & \$ 120 \\\hline \text { Finished goods inventory, ending } & \$ 160 \\\hline\end{array}$


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

• A) $610.
• B) $410.
• C) $490.
• D) $570.

---

Definitions:

Tupperware Party

A social gathering designed to sell Tupperware products through a direct sales model, typically held in a host's home.

Stratified Random Sample

A sampling method where the population is divided into subsets, known as strata, and a random sample is taken from each stratum.

Freshman

A student in their first year of study at a high school or university.

Sophomore

The term used to describe a second-year student in high school or college.