The Ribbon Company Began Operations on May 1

question 164

Multiple Choice

The Ribbon Company began operations on May 1.The following transactions took place in May: Purchased $400,000 of merchandise on account.
Purchased an additional $200,000 of merchandise for cash.
Paid $3,000 cash for freight to deliver the merchandise purchased.
Paid $25,000 for the store managers' monthly salaries.
The cost of the inventory purchased for the month of May equals ________.

• A)$400,000
• B)$600,000
• C)$603,000
• D)$628,000

---

Definitions:

Fat Soluble Vitamins

Vitamins that can be dissolved in fats and oils, stored in the body's fatty tissue, and include vitamins A, D, E, and K.

Toxic

Describes substances that are harmful or deadly to living organisms, potentially causing damage through chemical reactions or other pathways when ingested, inhaled, or absorbed.

Essential Amino Acids

Amino acids that the body cannot synthesize on its own and must be obtained through the diet.

Complete Protein

A source of protein that contains an adequate proportion of all nine essential amino acids necessary for the dietary needs of humans.