Table 5-4
the Following Data Is for the Atlantis Merchandising

question 138

Multiple Choice

Table 5-4
The following data is for the Atlantis Merchandising, which uses a periodic inventory system: $$\begin{array} { | l | r | } \hline \text { Sales revenue } & \$ 600,000 \\\hline \text { Interest revenue } & 12,000 \\\hline \text { Freight in } & 42,000 \\\hline \text { Beginning inventory } & 77,000 \\\hline \text { Purchase discounts } & 19,000 \\\hline \text { Sales reburns and allowances } & 33,000 \\\hline \text { Operating expenses } & 77,000 \\\hline \text { Interest expense } & 9,000 \\\hline \text { Ending inventory } & 81,000 \\\hline \text { Purchases } & 415,000 \\\hline \text { Sales discounts } & 35,000 \\\hline \text { Omar Atlantis, Withdrawals } & 71,000 \\\hline \text { Purchase returns and allowances } & 39,000 \\\hline\end{array}$$
-Refer to Table 5-4. The cost of goods sold for Atlantis Merchandising is:

• A)$524,000.
• B)$489,000.
• C)$557,000.
• D)$395,000.

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Definitions:

Denmark Vesey

A self-educated free Black man who planned a major slave rebellion in Charleston, South Carolina in 1822 but was betrayed before it began.

Nat Turner

An enslaved African American who led a significant slave rebellion in Virginia in 1831, aiming to end slavery and promote emancipation.

Freedom

A concept involving the ability to act or change without constraint; often associated with rights, liberty, and autonomy.

Peculiar

Distinctive, strange, or unusual in character or appearance.