Gluth Corporation Has Provided the Following Data for the Month

question 10

Multiple Choice

Gluth Corporation has provided the following data for the month of July. The beginning balance in the finished goods inventory account was $56,000 and the ending balance was $49,000. Sales totaled $290,000. Cost of goods manufactured was $147,000, selling expense was $17,000, and administrative expense was $68,000.
-The net operating income for July was:

• A) $58,000
• B) $143,000
• C) $150,000
• D) $51,000

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Definitions:

Different Ratios

Proportions or comparative quantities of elements or components in a mixture or compound.

Compound

A substance made up of two or more different elements chemically combined in fixed proportions.

Elements

Pure chemical substances consisting of a single type of atom, distinguished by their atomic number, which is the number of protons in their atomic nuclei.

Gold Foil Experiment

An experiment conducted by Ernest Rutherford which demonstrated that the atom has a tiny, dense nucleus by observing the deflection of alpha particles.