Gbane Company
the Following Information Is from Gbane Company's Year

question 81

Multiple Choice

Gbane Company
The following information is from Gbane Company's Year 1 accounting records:
$$\begin{array} { l r } \text { Purchases } & \$ 218,400 \\\text { Transportation-in } & 13,200 \\\text { Inventory, January 1, Year 1 } & 31,800 \\\text { Inventory, December 31, Year 1 } & 34,560 \\\text { Purchase returns and allowances } & 10,080\end{array}$$
-Refer to the information provided in the figure Gbane Company.Using the cost of goods sold model,what will the company report as its cost of goods sold in its Year 1 income statement?

• A) $215,880
• B) $218,760
• C) $224,280
• D) $228,840

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Definitions:

Organisational Strategy

A plan of action designed to achieve a long-term or overall aim within an organization.

Macroenvironment

The external and uncontrollable factors that influence an organization's decision making, and affect its performance and strategies.

SWOT Analysis

A strategic planning tool used to identify a company's Strengths, Weaknesses, Opportunities, and Threats.

Concentration Strategy

A business approach focusing on a single line of products or services to achieve competitive advantage and growth.