Crystal Inc What Is the Cost of Goods Sold for 2015?
A)

question 21

Multiple Choice

Crystal Inc. is a merchandiser of stone ornaments. The company sold 15,000 units in 2015. The company has provided the following information: $$\begin{array} { | l | r | } \hline \text { Sales Revenue } & \$ 557,000 \\\hline \text { Purchases (excluding freight in) } & 300,000 \\\hline \text { Selling and Administrative Expenses } & 69,000 \\\hline \text { Freight In } & 15,000 \\\hline \text { Beginning Merchandise Inventory } & 45,000 \\\hline \text { Ending Merchandise Inventory } & 55,700 \\\hline\end{array}$$ What is the cost of goods sold for 2015?

• A) $360,000
• B) $304,300
• C) $358,300
• D) $330,000

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Definitions:

Genetically

Pertains to genes and the hereditary material passed from parents to offspring, influencing traits and characteristics.

Fertilized Ovum

A cell that results from the fertilization of an ovum (egg) by a sperm, marking the beginning of a human life.

Genetic Material

The molecules (mainly DNA or RNA) within cells that carry the genetic instructions for the development, functioning, growth, and reproduction of all known organisms.

Zygote

The initial cell formed when a sperm cell fertilizes an egg cell, containing the genetic information necessary for the development of a new organism.