Prunedale Co

question 29

Multiple Choice

Prunedale Co. uses a periodic inventory system. Beginning inventory on January 1 was understated by $30,000, and its ending inventory on December 31 was understated by $17,000. In addition, a purchase of merchandise costing $20,000 was incorrectly recorded as a $2,000 purchase. None of these errors were discovered until the following year. As a result, Prunedale's cost of goods sold for this year was:

• A)Overstated by $31,000.
• B)Overstated by $5,000.
• C)Understated by $31,000.
• D)Understated by $48,000.Understatement of beginning inventory understates ( ) cost of goods sold and the understatement of ending inventory overstates (+) cost of goods sold.Also, the understatement of purchases understates ( ) cost of goods sold: $30,000 + 17,000 18,000 ($20,000 2,000) = $31,000 understatement of cost of goods sold

Determine the optimal strategies for aggregate planning, including chase, level, and mixed strategies.

Understand the concept of pH and its impact on solution acidity.

Knowledge of the use and role of indicators and buffers in measuring and maintaining pH levels.

Comprehend the differences between bases and acids in terms of ion release.

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