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

question 121

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 total cost of goods available for sale for the Atlantis Merchandising is:

• A)$434,000.
• B)$408,000.
• C)$476,000.
• D)$441,000.

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Definitions:

Exports

Products or services shipped from one nation to another for the purpose of being sold or exchanged.

Trade Deficit

A situation where a country's imports exceed its exports, leading to net outflow of domestic currency to foreign markets.

Exports

Goods or services sent from one country to another for sale or trade, contributing to a country's economy.

Imports

Goods or services brought into one country from another for the purpose of sale.