1. XYZ store had $3000 of inventory st the beginning of January. during January, it purchased $6000 of new merchandise. sales revenue for January was 10,000. inventory at the end of January was 4000. compute the cost of goods sold for January.

a) 1000

b)5000

c)7000

d)9000

e) no enough information

2. you own an old car that you don't need. you have 3 option. option A: sell the car as-is for $500. Option B: overhaul car at a cost of 2,300 and then sell it for 3000. option C: donate the care to charity for a tax refund worth 600. what is the opportunity cost for option c?

a)100

b)500

c)600

d)700

e)1,200

3. in choosing the best decision option. do we

a) maximize sales revenue

b)maximize profit

c) maximaize oppurtunity costs and maninmize oppurtunity revenue

d)minimize costs

e)all of the above