A Company's Cost of Goods Sold Was $4,000

question 79

Multiple Choice

A company's cost of goods sold was $4,000.Determine net purchases and ending inventory given goods available for sale were $11,000 and beginning inventory was $5,000.

• A)Net Purchases: $15,000; ending inventory: $7,000
• B)Net Purchases: $10,000; ending inventory: $15,000
• C)Net Purchases: $9,000; ending inventory: $6,000
• D)Net Purchases: $6,000; ending inventory: $7,000
• E)Net Purchases: $16,000; ending inventory: $20,000

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Definitions:

Resonance Contributors

Describes the various Lewis structures that represent a molecule's bonding and electron arrangement, highlighting how electrons can delocalize across the molecule.

Carbocation Intermediate

A positively charged ion (cation) characterized by the presence of a carbon atom having only six electrons in its valence shell, often occurring in organic reactions.

Resonance Contributors

Structures that depict the delocalization of electrons within a molecule, showing different possible configurations without changing the placement of atoms.

Major Products

In chemical reactions, the major products are the substances produced in the greatest amount, determined by the reaction conditions and mechanism.