Use the Information Below to Answer the Following Question(s)

question 213

Multiple Choice

Use the information below to answer the following question(s) .
Montreal Industries Inc. had the following activities during the year:

-What is Montreal's cost of goods sold during the year?

• A) $260,000
• B) $232,000
• C) $200,000
• D) $240,000

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Definitions:

Supplies

Items used in the operation of a business, often consumable, like stationery, raw materials, or maintenance supplies.

Utilities Expense

The cost incurred by businesses for basic services such as water, electricity, gas, and telecommunications.

Office Supplies

Items used regularly in an office for writing, printing, filing, or cleaning, regarded as consumable materials.

Journalize

The act of documenting monetary transactions within a journal during a stage in the accounting cycle.