If Michelle Knows That the Ending Inventory at Retail for Her

question 31

Multiple Choice

If Michelle knows that the ending inventory at retail for her corner store is $22 000 and her cost to retail percentage is 45%, her ending inventory at cost can be estimated as:

• A) $9 900.
• B) $12 100.
• C) $31 900.
• D) $40 000.

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Definitions:

Overconfidence

An overly positive judgment of one’s own decision-making abilities and performance.

Participant Confidence

The level of belief individuals have in their own abilities and judgments during participation in an activity or research.

Propositional Reasoning

Involves making inferences and deducing facts from propositions, or statements that declare something to be true or false.