George's Department Store Is a Merchandising Company That Uses the Periodic

question 47

Multiple Choice

George's Department Store is a merchandising company that uses the periodic inventory system.Selected account balances are listed below: $$\begin{array} { l r } \text { Sales } & \$ 200,000 \\\text { Purchases } & 90,000 \\\text { Inventory (beginning) } & 23,000 \\\text { Inventory (ending) } & 17,000 \\\text { Purchase returns and allowances } & 3,000 \\\text { Purchase discounts } & 7,000 \\\text { Transportation-in } & 4,000 \\\text { Sales discounts } & 8,000 \\\text { Sales returns and allowances } & 5,000\end{array}$$
-Refer to the account information for George's Department Store. ?
Calculate George's net sales.

• A) $200,000
• B) $187,000
• C) $195,000
• D) $192,000

---

Definitions:

Polygamy

A marriage practice where an individual has more than one spouse simultaneously.

The Frugal Housewife

A guide or manual typically aimed at domestic economy, offering advice on economical household management and thrift.

Economic Success

This term refers to the achievement of financial health and sustainability, often characterized by increasing wealth, growth in GDP, and improvement in living standards.

Piecework

A system of pay based on the quantity of work completed, rather than hours worked, often used in manufacturing.