Use the Chart Provided Below to Determine the Impact of a Company

question 11

Essay

Use the chart provided below to determine the impact of a company processing a $3,500 purchase invoice in fiscal 2021 for a purchase made near its fiscal 2020 year end. The goods were appropriately included in the year end inventory count.
$$\begin{array} { | l | l | l | } \hline \text { Goods included in inventory count } & \\\hline \text { Purchases recorded during the year } &\\\hline & 2020 & 2021 \\\hline \text { Beginning inventory } & & \\\hline + \text { Purchases } & & \\\hline \text { -Ending inventory } & & \\\hline \text { =Cost of goods sold } & & \\\hline & & \\\hline \text {Operating expense } &\text{NA} &\text{NA} \\\hline \text { Net income } & &\\\hline & & \\\hline \text { Assets } & & \\\hline \text { Liabilities } & & \\\hline \text { Equity } & &\\\hline\end{array}$$

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Definitions:

Egocentrism

The inability to differentiate between one's own viewpoint and that of others, often seen in early childhood development.

Conservation

The protection, preservation, management, or restoration of natural environments, cultural heritage, and biodiversity.

Autism Spectrum Disorder

A developmental disorder characterized by difficulties in social interaction and communication, along with restricted and repetitive patterns of behavior or interests.

Simon Baron-Cohen

A British clinical psychologist and professor known for his work on autism spectrum conditions, including the development of the theory that autism involves degrees of "mindblindness" or delays in the development of theory of mind and empathy.