Coastal Shores Inc

question 53

Multiple Choice

Coastal Shores Inc. (CSI) was destroyed by Hurricane Fred on August 5, 2018. At January 1, CSI reported an inventory of $170,000. Sales from January 1, 2018, to August 5, 2018, 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) $69,000.
• D) None of these answer choices are correct.

---

Definitions:

Global Corporate Performance

A measure of a corporation's overall efficiency, profitability, and market position on an international scale.

Patriotism

Love for or devotion to one's country.

Dogmatism

An unwavering adherence to a principle or doctrine, often without regard to evidence or the opinions of others.

Cultural Misunderstanding

Occurs when people from different cultural backgrounds misinterpret each other's actions, words, or intentions due to cultural differences.