From the Following Details of a Merchandiser, Calculate the Cost

question 231

Multiple Choice

From the following details of a merchandiser, calculate the cost of goods sold. (Assume the merchandiser uses the periodic inventory system.) $$\begin{array} { | l | r | } \hline \text { Net Sales Revenue } & \$ 200,000 \\\hline \text { Purchases } & 90,000 \\\hline \text { Purchase Returns and Allowances } & 1,900 \\\hline \text { Purchase Discounts } & 1,300 \\\hline \text { Freight In } & 1,850 \\\hline \text { Beginning Merchandise Inventory } & 64,000 \\\hline \text { Ending Merchandise Inventory } & 37,000 \\\hline\end{array}$$

• A) $115,650
• B) $59,800
• C) $113,800
• D) $51,650

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Definitions:

Motor Skills

Abilities involving the movement and coordination of muscles to perform activities ranging from simple to complex movements.

Implicit Memory

A type of memory in which previous experiences aid the performance of a task without conscious awareness of these previous experiences.

Classical Conditioning

A training method in which two stimuli are consistently associated with each other; over time, a reaction initially caused by the second stimulus is triggered by the first stimulus alone.

Implicit Memory

A type of memory that enables us to perform tasks without conscious awareness of these previous experiences, such as procedural memory involved in riding a bike.