Ranns Supply uses a perpetual inventory system. On January 1, its inventory account had a beginning balance of $6,400,000. Ranns engaged in the following transactions during the year. Purchased merchandise inventory for $9,200,000. Generated net sales of $25,000,000. Recorded inventory shrinkage of $10,000 after taking a physical inventory at year-end. Reported gross profit for the year of $16,000,000 in its income statement.

a. At what amount was Cost of Goods Sold reported in the company's year-end income statement?

Match the terms with the appropriate definition. 1. work done for pay job 2. series of related jobs based on knowledge, training, tasks performed, interests, and experience career 3. buying or selling products and services using the internet mediation 4. wage amount after deductions are withheld net wage 5. a way a person chooses to live his or her life e-commerce 6. the people who are both able and willing to work technology 7. unequal treatment of others based on a bias concerning a person’s characteristics such as race, religion, gender, or age discrimination 8. the act of sharing information lifestyle 9. the use of a third party to make suggestions workforce 10. knowledge and tools used to perform tasks communication