Coastal Shores Inc

question 73

Multiple Choice

Coastal Shores Inc. (CSI) was completely destroyed by Hurricane Fred on August 5, 2009. At January 1, CSI reported an inventory of $170,000. Sales from January 1, 2009, to August 5, 2009, totaled $480,000 and purchases totaled $195,000 during that time. CSI consistently marks up its products 60% over cost to arrive at a selling price. The estimated inventory loss due to Hurricane Fred would be:

• A)$131,175.
• B)$ 65,000.
• C)$ 17,143.
• D)None of these is correct.

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Definitions:

Constructive Relationship

A type of relationship characterized by positive, supportive interactions that contribute to the personal growth and well-being of the individuals involved.

Constructively

In a way that is helpful, positive, or beneficial, often contributing to the improvement or development of something.

Selfishly

Acting with primary concern for one's own interest or benefit, often at the expense of others.

Overstating

The action of exaggerating or making something seem more important or significant than it actually is.