Beginning inventory plus net purchases minus ending inventory equals
A) cost of goods sold.
B) gross profit on sales.
C) total revenue.
D) the balance of merchandise inventory.
E) net income before sales.
Question 2
After graduating with a marketing degree, James Smith was hired by a well-known public relations (PR) firm offering the opportunity to do PR work for large and small companies. According to Theory Y, James' supervisor would expect him to
A) ask how early he can leave each day.
B) avoid working too hard.
C) delegate most of his work to others.
D) seek to generate clientele and contacts for present and future public relations assignments.
E) spend most of his time reviewing the company's early retirement package.
Caleb Goodwin, Inventory of Slaves and Livestock.
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