Samson Company Had the Following Balances and Transactions During 2019

question 76

Multiple Choice

Samson Company had the following balances and transactions during 2019: $$\begin{array} { | l | l | } \hline\begin{array} { l } \text { Beginning Merchandise } \\\text { Inventory }\end{array} & 20 \text { units at } \$ 94 \\\hline \text { March 10 } & \text { Sold 17 units } \\\hline & \text { Purchased 60 units at } \\\text { June 10 } & \$ 100 \\\hline \text { October 30 } & \text { Sold 54 units } \\\hline\end{array}$$ What is the balance of the company's Merchandise Inventory,as disclosed in the December 31,2019 balance sheet as per the periodic FIFO inventory costing method?

• A) $564
• B) $600
• C) $1,880
• D) $900

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Definitions:

Organizational Learning

involves the process by which an organization improves its ability to achieve its goals by creating, acquiring, and transferring knowledge, as well as modifying its behavior to reflect new insights and knowledge.

Knowledge Management

The process of capturing, developing, sharing, and effectively using organizational knowledge.

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The process of obtaining, absorbing, and storing new knowledge or skills through various means such as studying, training, or direct experiences.

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A cognitive process by which individuals reward or punish themselves for meeting or failing to meet their own standards or goals.