Sampson Company Had a Cost of Goods Sold of $730,000

question 62

Multiple Choice

Sampson Company had a Cost of Goods Sold of $730,000 and Cost of Goods Manufactured of $940,000 for the year ended December 31,2012.If the January 1,2012 balance in the Finished Goods Inventory account was $180,000,what was the December 31,2012,balance in Finished Goods Inventory?

• A)$1,850,000
• B)$1,120,000
• C)$520,000
• D)$390,000
• E)None of the above.

---

Definitions:

Accountability

The obligation of an individual or organization to account for its activities, accept responsibility for them, and to disclose the results in a transparent manner.

Organizational Behavior

Examining how humans behave within organizations, how they interact with these organizations, and the analysis of the organizations themselves.

Internal Processes

The operations or activities that occur within an organization or system which are crucial for its functioning.

Effectiveness

The degree to which objectives are achieved and desired outcomes are realized, often used as a metric for success in various contexts.