An Electronics Retailer Purchases $20,000 of Computers for Resale

question 119

Multiple Choice

An electronics retailer purchases $20,000 of computers for resale.The retailer spends $500 in transportation cost,$2,000 in labour and parts to upgrade the computers,and $300 to advertise them.At this point,what amount should appear in the Inventory account for these computers?

• A)$20,000
• B)$20,500
• C)$22,500
• D)$22,800

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Definitions:

Binomial Distribution

A probability distribution that represents the number of successes in a fixed number of trials, each with the same probability of success.

Alpha

In statistics, it denotes the significance level used in hypothesis testing, typically set to 0.05 or 5%, representing the probability of rejecting the null hypothesis when it is actually true.

Likelihood

The probability of a particular outcome given a set of parameters within a statistical model.

Binomial Variable

A type of discrete variable that can take one of two independent values, often representing success or failure in an experiment.