The Following Information Appears on the Income Statement of the Richer

question 70

Multiple Choice

The following information appears on the income statement of the Richer Company at the end of the year. $\begin{array}{lr}\text { Beginning finished goods inventory } & \$ 160,000 \\\text { Ending finished goods inventory } & 144,000 \\\text { Sales } & 400,000 \\\text { Gross Profit on Sales } & 120,000\end{array}$ Cost of Goods Manufactured was:

• A) $246,000.
• B) $280,000.
• C) $264,000.
• D) $240,000. Cost of Goods Sold = 400,000 - 120,000 = 280,000.
• Cost of Goods Manufactured = 144,000 + 280,000 - 160,000 = 264,000.

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Definitions:

Loops of Henle

The part of the kidney nephron involved in the counter-current exchange mechanism to concentrate urine and reclaim water and salts.

Podocytes

Specialized cells in the kidneys that wrap around capillaries of the glomerulus, playing a critical role in the filtration of blood to form urine.

Bowman's Capsule

A structure in the kidneys that encloses the glomerulus and initiates the process of filtration to form urine.

Glomerulus

A network of capillaries located in the kidney that plays a key role in filtering blood to form urine.