Stevens Company Started the Year with an Inventory Cost of $145,000

question 57

Multiple Choice

Stevens Company started the year with an inventory cost of $145,000. During the month of January, Stevens purchased inventory that cost $53,000. January sales totaled $140,000. Estimated gross profit is 35%. The estimated ending inventory as of January 31 is

• A) $58,000
• B) $91,000
• C) $107,000
• D) $69,300

---

Definitions:

Average Time

The mean value of a set of times taken for the completion of tasks or occurrences of an event.

Performance Measures

Criteria or indicators used to assess the effectiveness, efficiency, or quality of a product, service, or process.

Repetitive Focus Factory

A repetitive focus factory is a manufacturing facility designed to produce high volumes of a limited range of products, emphasizing efficiency and consistency.

Number Of Phases

A term referring to the distinct stages or steps in a process or project lifecycle.