Robbinsdale,Inc What Is the Cost of Goods Available for Sale for During

question 178

Multiple Choice

Robbinsdale,Inc.is a merchandiser of stone ornaments.The company sold 8,000 units during the year.The company has provided the following information: $$\begin{array} { | l | r | } \hline \text { Sales Revenue } & \$ 559,000 \\\hline \text { Purchases (excluding freight in) } & 303,000 \\\hline \text { Selling and Administrative Expenses } & 67,000 \\\hline \text { Freight In } & 14,000 \\\hline \text { Beginning Merchandise Inventory } & 46,000 \\\hline \text { Ending Merchandise Inventory } & 43,000 \\\hline\end{array}$$ What is the cost of goods available for sale for the year?

• A)$363,000
• B)$320,000
• C)$349,000
• D)$335,000

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Definitions:

Standard Deviation

A metric that calculates the degree of spread or scattering within a data set.

Nearly Normal Condition

Nearly normal condition refers to a situation where a dataset or distribution closely approximates a normal distribution, meeting certain criteria for statistical analyses.

Confidence Interval

A range of values, derived from a dataset, that is used to estimate the likelihood of containing the true mean or proportion of the whole population.

Degrees of Freedom

The number of independent values or quantities which can be assigned to a statistical distribution, typically influencing the shape of the distribution.