What Is the Calculation of Closing Inventory for a Finished

question 77

Multiple Choice

What is the calculation of closing inventory for a finished goods inventory budget?

• A)(Opening balance plus inventories manufactured)less sales of finished goods
• B)(Opening balance plus sales of finished goods)less inventories manufactured
• C)(Opening balance plus inventories manufactured)plus cash sales of finished goods
• D)None of the above

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Definitions:

IQ

An abbreviation for Intelligence Quotient, a measure of a person’s cognitive abilities in relation to their age group.

Chronological Age

The amount of time that has passed since a person's birth, typically measured in years.

Mental Age

A measure of an individual's mental ability expressed as the age at which an average individual reaches the same level of mental performance.

IQ

Short for Intelligence Quotient, a measure of a person's intelligence as indicated by an intelligence test, compared to the average for people of their age.