On September 30 a Company Needed to Estimate Its Ending

question 19

Multiple Choice

On September 30 a company needed to estimate its ending inventory to prepare its third quarter financial statements. The following information is available: Beginning inventory, July 1: $4,000
Net sales: $40,000
Net purchases: $41,000
The company's gross margin ratio is 15%. Using the gross profit method, the cost of goods sold would be:

• A) $4,000.
• B) $5,000.
• C) $21,000.
• D) $25,000.
• E) $34,000.

---

Definitions:

Subjected To Frustration

The state of experiencing obstacles that prevent an individual from achieving desired goals, leading to feelings of dissatisfaction or stress.

Innocent Stranger

A concept or figure often used in literature and psychology to represent purity, naivety, or someone unaffected by corruption or moral blemishes.

Disinhibition

The reduction or removal of restraints on one's behavior, often leading to actions that are uninhibited by social norms or personal standards.

Cues For Aggression

Cues for aggression involve environmental, psychological, or social signals and triggers that may provoke aggressive behavior or responses in individuals.