Use This Information to Answer the Following Question

question 159

Multiple Choice

Use this information to answer the following question. In addition,beginning merchandise inventory was $11,000 and ending merchandise inventory was $7,000.
Net cost of purchases for the period were

• A)$37,000.
• B)$21,000.
• C)$27,000.
• D)$33,000.

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Definitions:

Concept

Any abstract characteristic or attribute that has the potential to be measured.

Indicator Variables

Variables, often used in statistical models, that take on a value of 0 or 1 to indicate the absence or presence of a categorical effect that may impact the result.

Validity

The degree to which an indicator accurately measures or reflects a concept.

Reliability

The likelihood that a particular measure would produce the same results if the measure were repeated.