Barrister and Company Began July with a Finished Goods Inventory

question 26

Multiple Choice

Barrister and Company began July with a finished goods inventory of $10 000. The cost of goods manufactured during the month was $85 000 and the ending finished goods inventory was $20 000.
The cost of goods sold during July was:

• A) $55 000.
• B) $75 000.
• C) $95 000.
• D) $105 000.

---

Definitions:

Relative Frequency

The proportion of times a particular value or category appears in a dataset relative to the total number of observations.

Crosstabulation

A tabular summary of data for two variables. The classes for one variable are represented by the rows; the classes for the other variable are represented by the columns.

Variables

Elements, characteristics, or attributes that can take on different values and are used in scientific research or statistical analysis.

Stem-and-Leaf Display

A graphical method of displaying quantitative data to assess its distribution, by dividing each data point into a "stem" and a "leaf".