[The Following Information Applies to the Questions Displayed Below

question 103

Multiple Choice

[The following information applies to the questions displayed below.]
200 At the end of last year,Games-2-Use had merchandise costing $140,000 in inventory.During January of the current year,the company purchased merchandise costing $102,000,and sold merchandise that it had purchased at a total cost of $84,000.Games-2-Use uses a perpetual inventory system.
-The balance in the Inventory account at January 31 was:

• A)$84,000.
• B)$140,000.
• C)$158,000.
• D)$242,000.

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Definitions:

Personal Relevance

Degree to which people expect an issue to have significant consequences for their own lives.

Significant Consequences

Outcomes or results of actions that have a notable impact on individuals, groups, or systems, often causing lasting changes.

Elaboration Likelihood Model

A theory explaining how people process persuasive messages, differentiating between a central route of careful scrutiny and a peripheral route of cues external to the message.

Personal Relevance Theory

The hypothesis that people pay more attention to and are more likely to remember information that they find personally relevant or meaningful.