The Following Information Is Available for the Crystal Company for the Three

question 66

Multiple Choice

The following information is available for the Crystal Company for the three months ended June 30 of this year:

The gross margin was 25 percent of sales.What is the estimated inventory balance at June 30?

• A)$880,000
• B)$933,000
• C)$1,200,000
• D)$1,500,000

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Definitions:

Carrier

A person who carries and transmits characteristics but does not exhibit them.

Recessive Gene

A genetic trait that is expressed only when two copies of the gene are present, often overshadowed by a dominant counterpart.

Sickle Cell

A genetic blood disorder that results in red blood cells assuming a sickle shape, leading to problems such as pain, infections, and anemia.

Recessive Gene

A type of gene that is not expressed in the phenotype unless two copies of the gene (one from each parent) are present.