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:

Modeling

The process of learning behaviors by observing and imitating others.

Model's Behavior

The actions exhibited by an individual that are imitated or learned through observation by others, a key concept in social learning theory.

Repeating Behavior

The act of doing something over and over again, which may indicate a pattern, habit, or psychological condition.

Personal Self-Efficacy

Belief in one's ability to succeed in specific situations or to accomplish a task, affecting how one approaches goals, tasks, and challenges.