The Records of a Company Provided the Following Information at December

question 21

Multiple Choice

The records of a company provided the following information at December 31, 2001: $\begin{array} { | l | c | } \hline \text { Invoice mailed } & \$ 70 \\\hline \text { Items purchased, FOB shipping point invoices mailed, items not yet en route } & 104 \\\hline \text { Items purchased, FOB destination, terms } 5 / 10 , \mathrm { n } / 30 , \text { received at warehouse } & 100 \\\hline \text { Items held on consignment from another company } & 50 \\\hline \text { Ending inventory } 12 / 31 / 2001 \text { (excluding above items) } & 80 \\\hline\end{array}$
Items en route to customers, f.o.b. destination What December 31, 2001, inventory cost should the company report?

• A) $224
• B) $230
• C) $245
• D) $404

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Definitions:

HR Estimates

Predictions or assessments regarding human resources aspects, such as staffing levels, made to support planning and decision-making.

Short-Run Forecast

A prediction of future events or trends that is focused on a relatively immediate time frame.

HR Forecasting Process

The systematic process used by Human Resources to predict future staffing requirements based on current data, trends, and strategic plans.

Organizational Requirements

The needs or conditions that an organization must meet to achieve its objectives effectively.