On May 1 of the Current Year, Peck Company Experienced

question 170

Multiple Choice

On May 1 of the current year, Peck Company experienced a 500 year flood which destroyed the company's entire inventory. The company had not completed its month end reporting for April and must estimate the amount of inventory lost. At the beginning of April, the company reported beginning inventory of $215,450. Inventory purchased during April (until the date of the disaster) was $192,530. Sales for the month of April were $542,500. Assuming the company's typical gross profit ratio is 40%, estimate the amount of inventory destroyed in the flood.

• A) $87,480
• B) $134,520
• C) $109,980
• D) $82,480
• E) $81,480

Understand the characteristics and formulation of cognitive behavioral goals.

Describe the concept of mindfulness and its therapeutic implications.

Formulate appropriate closing-phase goals in cognitive-behavioral therapy for specific cases.

Understand the various methods and measures used to assess brand equity.

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Definitions:

Shareholders

Individuals or entities that own one or more shares of stock in a public or private corporation, thus having a claim to a part of the company's assets and earnings.

Risk

The possibility of loss or injury, or the variability of returns associated with a given investment or financial activity.

Contributed Capital

The total value of cash or other assets that shareholders have given a company in exchange for stock, also known as paid-in capital.

Return on Assets

A financial ratio indicating the profitability of a company relative to its total assets, measuring how effectively a company uses its assets to generate earnings.