Lakeside Manufacturing Provided the Following Information for the Month Ended

question 99

Multiple Choice

Lakeside Manufacturing provided the following information for the month ended March 31: $$\begin{array} { | l | r | } \hline \text { Sales Revenue } & \$ 23,000 \\\hline \text { Beginning Finished Goods Inventory } & 7,000 \\\hline \text { Ending Finished Goods Inventory } & 9,500 \\\hline \text { Cost of Goods Manufactured } & 13,600 \\\hline\end{array}$$
Compute cost of goods available for sale.

• A) $13,600
• B) $23,100
• C) $20,600
• D) $11,100

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Definitions:

Excess Cash

Cash holdings that exceed the normal operational needs of a company, potentially available for investment or distribution to shareholders.

Undervalued

A financial term referring to an asset or security whose price is perceived to be less than its intrinsic or fair value.

Compromise Dividend Policy

A dividend policy that seeks a balance between keeping shareholders happy with regular dividends and reinvesting earnings into the company.

Dividends

Payments made by a corporation to its shareholder members, usually derived from the company's profits.