Cannibalized income is additional income to a company as a result of a new product

Changing personnel responsibilities to suit an information system is more disruptive to an organization than ordering additional hardware for the information system

Indicate whether the statement is true or false

Exhibit 8-2 The Dormer Company uses the gross profit method to estimate its inventory in interim financial statements. The markup on cost is 50%. The following information is available: January 1, 2016, inventory balance $12,500 Purchases 25,000 Sales during January 24,000 ? ? Refer to Exhibit 8-2. The estimated cost of goods sold at January 31, 2016, is

A) $25,500 B) $21,500 C) $16,000 D) $12,000