Lakeshore Manufacturing Provided the Following Information for the Month Ended

question 199

Multiple Choice

Lakeshore Manufacturing provided the following information for the month ended March 31: $\begin{array}{|l|c|}\hline\text { Sales Revenue } & \$ 30,000 \\\hline \text { Beginning Finished Goods Inventory } & 17,000 \\\hline \text { Ending Finished Goods Inventory } & 11,500 \\\hline \text { Cost of Goods Manufactured } & 12,600\\\hline\end{array}$ Compute gross profit.

• A)$11,900
• B)$17,400
• C)$22,900
• D)$5900

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Definitions:

Standard Deviation

A measure of the amount of variation or dispersion of a set of values.

Variability

The degree to which observations in a dataset or statistical distribution vary from the mean and among themselves.

Range

The difference between the highest and lowest scores in a data set, reflecting the spread or dispersion of the scores.

Mean Deviation

The average of absolute differences between each value in a set and the mean of the set, indicating the dataset's dispersion.