If 80% of All Inventory Was Sold at $32 Per

question 53

Multiple Choice

If 80% of all inventory was sold at $32 per unit and 3,500 units were sold,what is the cost of the finished goods inventory at year-end?

• A)$16,800
• B)$77,000
• C)$19,250
• D)$96,250

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Definitions:

Regulation S-K

A SEC regulation that outlines reporting requirements for various SEC filings used by public companies.

SEC

The Securities and Exchange Commission, a U.S. federal agency responsible for enforcing federal securities laws and regulating the securities industry.

Purpose

The purpose behind the creation or existence of something.

Securities Act of 1933

A U.S. law enacted to protect investors from fraudulent and misleading practices in the securities markets.