Average Inventory Is Equal To

question 38

Multiple Choice

Average inventory is equal to:

• A) beginning inventory plus cost of goods sold divided by two
• B) beginning inventory plus ending inventory divided by two
• C) cost of goods sold plus purchases divided by two
• D) ending inventory plus cost of goods sold divided by two

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Definitions:

Piezoelectricity

The production of electricity by applying pressure to a crystal.

Pressure

The force applied perpendicular to the surface of an object per unit area over which that force is distributed.

Strict Constructionists

Individuals who interpret the Constitution in a literal and narrow way, often limiting the powers of the federal government.

General Welfare

A clause in the Constitution that allows Congress to pass laws deemed necessary and proper for the health and well-being of the American populace.