Owens Janitor Supply Has the Following Account Balances at the End

question 20

Multiple Choice

Owens Janitor Supply has the following account balances at the end of the current accounting period. A normal gross profit percent is 40%. What is the Estimated ending inventory as determined by the gross profit method?

• A)$150,000
• B)$50,000
• C)$200,000
• D)$300,000

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Definitions:

Natural Selection

The process by which organisms better adapted to their environment tend to survive and produce more offspring, driving evolution.

Organisational Subcultures

Distinctive cultural groups within a larger organization, characterized by shared values, norms, and practices that differ from the broader organizational culture.

Educational Subcultures

Groups within educational institutions that have distinct values, behaviors, and beliefs different from the mainstream culture.