The Following Information Is Available for Plymouth Ltd The Cost of Goods Sold Is Equal to 200% of Year

question 75

Multiple Choice

The following information is available for Plymouth Ltd. for last year: $$\begin{array} { l l } \text { Freight-in } & \$ 120,000 \\\text { Purchase returns } & 183,000 \\\text { Selling expenses } & 255,000 \\\text { Ending inventory } & 480,000\end{array}$$ The cost of goods sold is equal to 200% of selling expenses. What is the cost of goods available for sale?

• A) Cannot be determined from information given.
• B) $447,000
• C) $990,000
• D) $927,000

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Definitions:

Nominal Group Technique

A structured method for group brainstorming that encourages contributions from everyone.

Programmed Decision

A decision made in response to recurring organizational problems that involve predictable, routine procedures.

Probation

A trial period during which a new employee's performance and suitability for a position are evaluated by their employer, or a judicial sentence that allows an offender to remain in the community under supervision instead of serving time in prison.

Reorder Inventory

The process of restocking products or materials in business operations to maintain an adequate supply level.