Better Buy,Inc

question 127

Multiple Choice

Better Buy,Inc.has 7 units in inventory on December 31.The units were purchased in November for $160 each.The price lists from the suppliers indicate that the same items would now cost the company a total of $1,155.What would be the amount reported as Ending Merchandise Inventory on the balance sheet?

• A)$2,275
• B)$325
• C)$1,120
• D)$1,155

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Definitions:

Back-To-Basics

An educational movement focusing on traditional teaching methods and fundamental subjects such as reading, writing, and arithmetic.

Middle School

An educational stage which bridges elementary education with high school, typically for students aged around 11 to 14.

Elementary School

A primary educational institution where children receive the first stage of compulsory education known as elementary or primary education.

Achievement

The successful accomplishment of a task through effort, skill, or courage.