Juliet Corporation Has Accumulated the Following Accounting Data for the Year

question 103

Multiple Choice

Juliet Corporation has accumulated the following accounting data for the year:
$\begin{array}{llr} \text { Finished goods inventory, January 1} &\$3,200\\ \text { Finished goods inventory, December 31 } &4,000\\ \text {Total cost of goods sold } &4,200\end{array}$

The cost of goods manufactured for the year is:

• A) $200
• B) $1,000
• C) $5,000
• D) $6,400
• E) $8,200

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Definitions:

Intellectual Growth

The development of mental capacity and cognitive skills, including problem-solving, critical thinking, and the acquisition of knowledge.

Conservation

The principle in cognitive development that recognizes the ability to understand that redistributing material does not affect its mass, number, or volume.

Accommodation

In psychology, accommodation refers to adjusting one's schemas and perceptions to incorporate new information, as described by Jean Piaget in his theory of cognitive development.

Object Permanence

The understanding that objects continue to exist even when they cannot be seen, heard, or touched, typically developed during infancy.