A company reported the following information for 2013:

During 2013, the company purchased new inventory of $160,000. What amount should the company report as cost of goods sold on its 2013 income statement?

On July 1st, a company paid $12,000 for an annual insurance policy covering the month of July through the following June. Which of the following statements reflects how this payment would be recorded on July 1st under the accrual method?

An on-demand taxi service guarantees that it can provide a taxi in five minutes or less. If the service has a fixed number of taxis, how can it most cheaply guarantee "five minutes or less" during busy periods?

After a small country begins permitting the import of automobiles, a foreign automobile manufacturer begins shipping cars to the country. This manufacturer can produce cars much more cheaply than the only manufacturer located in the country and therefore enjoys significant profits. What will erode the profits for the foreign manufacturer?

Exhibit:

A recent graduate is interested in investing in a stock. This individual is particularly interested in retail companies and has been following two companies closely for the past year. In order to decide which stock to invest in, this individual decides to compare monthly returns for both companies over the past year. A table of descriptive statistics is given below. What can be said about Company A regarding risk and average returns in relation to Company B?