Susan Florists Had the Following Account Balances at the End

question 119

Multiple Choice

Susan Florists had the following account balances at the end of the current accounting period: $$\begin{array} { | l | r | } \hline \text { Beginning inventory } & \$ 53,500 \\\hline \text { Net purchases } & 75,500 \\\hline \text { Net sales revenue } & 93,700 \\\hline\end{array}$$ A normal gross profit percent is 30%. What is the estimated ending inventory as per the gross profit method?

• A) $100,890
• B) $28,110
• C) $63,410
• D) $65,590

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Definitions:

Medical Assistant

A healthcare professional who performs administrative and clinical tasks to support the work of physicians and other health professionals.

Informed Consent Form

A document that explains the risks, benefits, and alternatives of a procedure or treatment, to be signed by a patient, indicating their understanding and agreement to proceed.

Practice Owner

An individual who owns and often operates a private business in a healthcare-related field.

Documentation Approach

The method or strategy employed in collecting, maintaining, and archiving records and documents.