Kentucky Purchases and Sells Widgets If Kentucky Sold 7,500 Units of Widgets During 2015, How

question 107

Multiple Choice

Kentucky purchases and sells widgets. The following information summarizes Kentucky's operating activities for 2015: $$\begin{array} { | l | r | } \hline \text { Selling and Administrative Expenses } & \$ 4,500 \\\hline \text { Purchases } & 157,000 \\\hline \text { Sales Revenue } & 785,000 \\\hline \text { Merchandise Inventory, January 1, 2015 } & 38,250 \\\hline \text { Merchandise Inventory, December 31, 2015 } & 79,000 \\\hline\end{array}$$ If Kentucky sold 7,500 units of widgets during 2015, how much is the cost for one widget?

• A) $50.00
• B) $15.50
• C) $26.36
• D) $16.10

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Definitions:

McDonaldization

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Ritzer

George Ritzer is a sociologist known for his work on consumerism, globalization, and the McDonaldization of society, which describes when society adopts the characteristics of a fast-food restaurant.

Dimensions

Aspects or features that can be measured or used to define or describe something, often used in various contexts like physical dimensions or dimensions of an issue.

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Social organizations, primarily found in North American colleges and universities, that are based on a system of brotherhood or sisterhood.