The Beginning and Ending Finished Goods Inventories of a Company

question 67

Multiple Choice

The beginning and ending finished goods inventories of a company were $91,000 and $94,000 respectively.If cost of goods sold equaled $800,000,what is the amount of cost of goods manufactured for this period?

• A) $706,000
• B) $709,000
• C) $797,000
• D) $803,000
• E) $3,000

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Definitions:

Resource Theory

Resource theory is a social science theory that focuses on the distribution and exchange of resources, including economic, cultural, or social, within relationships and society.

Financial Resources

Assets and sources of income available to an individual or organization to fund operations, projects, or living expenses.

Greater Power

A position of superior strength, authority, or influence over others, often within a specific context or hierarchy.

Sibling Abuse

Physical, emotional, or sexual harm inflicted by one sibling onto another within the same family.