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:

Pants

A piece of clothing for the lower body from waist to ankles, covering each leg separately.

Belt

A flexible band or strap, typically made of leather or cloth and worn around the waist, to support or hold in clothing, carry weapons, or serve as a fashion item.

Shoes

Footwear items designed to protect and comfort human feet while offering support for various activities.

Lungs

Paired respiratory organs situated within the thorax of mammals and many other organisms, essential for breathing and exchanging oxygen and carbon dioxide.