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

question 129

Multiple Choice

Stevens Company started the year with an inventory cost of $145,000. During the month of January they purchased inventory that cost of $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

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Definitions:

Hallucinations

Perceptions experienced without an external stimulus, appearing real but created by the mind, often seen in psychiatric conditions.

Anxiety

Experiencing uneasiness, tension, or fear because of an event with an unknown conclusion.

Depression

A common but serious mood disorder that affects how a person feels, thinks, and handles daily activities.

Preparedness

The concept in psychology that suggests organisms are innately predisposed to form certain associations or learn particular kinds of behaviors.