Use the Following Information to Estimate the Third Quarter Ending

question 39

Multiple Choice

Use the following information to estimate the third quarter ending inventory under the gross profit method. This company's gross profit ratio is 20%. Third quarter beginning inventory: $54,000
Net sales for third quarter: $85,000
Net purchases for third quarter: $21,000

• A)$101,000
• B)$58,000
• C)$35,000
• D)$7,000
• E)$14,000

---

Definitions:

World Poverty

The condition of lacking sufficient financial or material resources on a global scale, affecting billions of people's ability to meet basic needs such as food, water, shelter, and education.

Future Security

Measures or assurances put in place to ensure stability and protection from potential threats or uncertainties in the future.

Masculinity

A set of attributes, behaviors, and roles traditionally associated with boys and men, often emphasized by strength, dominance, and emotional restraint.

Gender-Based Violence

Forms of violence or abuse directed at an individual based on their gender identity or perceived adherence to socially constructed gender norms.