Which of the Following Statements Is Incorrect

question 126

Multiple Choice

Which of the following statements is incorrect?

• A)Ending inventory exceeds beginning inventory when purchases are greater than cost of goods sold.
• B)Cost of goods sold exceeds purchases when ending inventory is less than beginning inventory.
• C)Cost of goods available for sale will always be equal to or greater than cost of goods sold.
• D)Ending inventory is greater than beginning inventory when purchases are less than cost of goods solD.Ending inventory exceeds beginning inventory when purchases are greater than cost of goods sold.

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Definitions:

Offshore Sourcing

The practice of sourcing materials or products from suppliers located in foreign countries, often to reduce costs.

Weekly Capacity

The maximum amount of production or work that can be completed in a one-week timeframe by a company, facility, or machinery.

Efficiency Manufacturing

The production of goods in a manner that minimizes waste, resources, and time while maximizing output and quality.

Inventory

The total amount of goods or materials a business has in stock at any given time.