In Its First Year of Operations as a Retailer, Riley

question 158

Multiple Choice

In its first year of operations as a retailer, Riley Ltd. reported a gross profit of $181,500, total purchases of $225,000, and an ending inventory of $90,000. Therefore, Riley's sales in its first year must have been

• A) $91,500.
• B) $135,000.
• C) $315,000.
• D) $316,500.

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Definitions:

Request

A solicitation or petition for something required or desired.

Transaction

The act of buying or selling something; a business deal or financial exchange.

Customer Database

A collection of information about customers, including contact details, purchase history, and preferences, used by businesses to tailor marketing efforts and improve service.

Online Retailer

A business that sells products or services to customers through the internet, without a physical storefront.