A company has cost of goods available for sale of $250,000, sales of $287,000, and a gross profit percentage of 30 percent. Using the gross profit method, what is the ending inventory?
a. $113,000
b. $50,000
c. $49,100
d. $163,900
C
You might also like to view...
If the buyer and seller have an agreement for liquidated damages, and the seller justifiably withheld delivery of the goods because of the buyer's breach, the buyer is entitled to recover:
A. any money or goods he has delivered to the seller only to the agreed amount of liquidated damages. B. an amount in excess of $500 or 20 percent of the value of total performance. C. any money or goods he has delivered to the seller over and above the agreed amount of liquidated damages. D. an amount in excess of $1,000 or 20 percent of the value of total performance or whichever amount is higher.
Promotion is also referred to as ________.
A. marketing communication B. slogans C. digital marketing D. place E. advertising
Interpretation involves analyzing the meaning of what you hear, read, or see
Indicate whether the statement is true or false.
Product disparagement differs from defamation of a nonpublic figure in that:
A) Publication to a third party is required in the defamation case, but not in the disparagement case. B) Publication to a third party is required in the disparagement case, but not in the defamation case. C) Intent is required for the disparagement case, but not in the defamation case. D) Intent is required for the defamation case, but not in the disparagement case. E) Both A and D are true.