On December 31,2017,you Count 300 Tie Clips in Inventory

question 99

Multiple Choice

On December 31,2017,you count 300 tie clips in inventory.During the next quarter,you carefully record the effect of each purchase and sale transaction on inventory.You buy 128 tie clips during the next quarter.On March 31,2018,you count 288 tie clips in inventory.Which of the following is true?

• A)Ending inventory would be 278 tie clips on March 31,2018.
• B)Your company uses the periodic inventory method.
• C)Your company's records would show that 140 tie clips were sold during the quarter.
• D)All of the answers are acceptable.

---

Definitions:

Polygyny

Refers to a form of polygamy where a man is allowed to have more than one wife at the same time.

European Economic System

Refers to the complex set of economies of European countries, often associated with the European Union's economic policies and mechanisms for fiscal stability and economic cooperation.

Slave Trade

The historical trading of enslaved Africans, primarily between the 16th and 19th centuries, to the Americas.

Slave Labor

The forced labor of individuals who are owned by others, without the right to refuse work or receive payment, historically practiced in various societies.