A Company That Uses the Periodic Inventory Method Provided the Following

question 59

Multiple Choice

A company that uses the periodic inventory method provided the following information: 1. Beginning inventory $4,000
2. Purchases $120,000
3. Purchase discounts $2,400
4. Purchase returns and allowances $800
At the end of the period, the company does an inventory count and finds $18,000 worth of inventory on hand.
What is the amount of Cost of goods sold?

• A)$102,800
• B)$104,200
• C)$138,800
• D)$128,800

---

Definitions:

Integrity And Despair

A stage in Erik Erikson's theory of psychosocial development where older adults look back on their life and either feel a sense of fulfillment or regret.

Caring

Displaying kindness and concern for others, often characterized by acts of helpfulness or compassion.

Attentive

Refers to the quality of paying close attention to something or someone, showing careful attention to details.

Close Relationship

A strong and ongoing emotional connection between individuals, characterized by mutual affection and trust.