Financial Statements of ABC Corp

question 49

Multiple Choice

Financial Statements of ABC Corp. indicates that ending inventory levels in 2005 and 2006 were $200,000 and $350,000 respectively. Cost of Goods sold for 2005 and 2006 were $1,900,000 and $2,200,000 respectively. Purchases in 2006 were:

• A) $1,950,000
• B) $2,150,000
• C) $2,350,000
• D) $1,850,000

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Definitions:

Swing-Arm Type

A design of suspension or support where a pivoting arm moves in an arc, commonly used in motorcycle rear suspensions.

Drive-On Type

Refers to equipment or mechanisms that are engaged or activated by driving onto or over them, often seen in automotive service equipment.

Four-Post Design

A type of lift or rack in automotive repair shops or garages featuring four posts that provide stability and support for a vehicle during maintenance or inspections.

VIN Number

The Vehicle Identification Number, a unique code used to identify individual motor vehicles.