Author Question: Lutex Corporation began its accounting period with a merchandise inventory (beginning inventory) ... (Read 224 times)

joe · **on:** Jul 14, 2018

Lutex Corporation began its accounting period with a merchandise inventory (beginning inventory) that cost 10,000. During the period, it purchased for resale merchandise with a retail value of 100,000. With purchase discounts, it paid only 80,000 for this merchandise. Thus, during this period, Lutex had ____ in goods available for sale.
A) 180,000
B) 70,000
C) 80,000
D) 90,000
E) 190,000

Question 2

Theory Y is most suitable in a work situation in which workers are
A) in need of close supervision.
B) just beginning to learn their jobs.
C) highly motivated.
D) unskilled.
E) none of the above.