A Merchandiser Uses a Perpetual Inventory System

question 4

Multiple Choice

A merchandiser uses a perpetual inventory system. The beginning Capital balance of a merchandiser was $100,000. During the year, sales revenue amounted to $75,000, sales returns and allowances were $1,000, sales discounts were $3,000, cost of goods sold was $40,000, and all other expenses totaled $10,000. The total withdrawals amounted to $25,000. The closing balance of Capital would be:

• A)$99,000
• B)$96,000
• C)$90,000
• D)$100,000

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Definitions:

Care Plan

A formal plan developed by healthcare providers and the patient to outline a course of treatment and interventions for specific health care needs or conditions.

Coping Ability

An individual's capability to manage and adapt to stress or adversity.

Primary Caregiver

The main individual, often a family member or professional, responsible for providing direct care and support to a person with health or personal needs.

Unexpectedly Hospitalized

The unforeseen admission of a person to a hospital for medical care.