George's Department Store
George's Department Store Is a Merchandising Company

question 130

Multiple Choice

George's Department Store
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. Determine gross profit.

• A)$93,000
• B)$97,000
• C)$103,000
• D)None of these choices

---

Definitions:

Muscular Contraction

Muscular contraction is the process where muscle fibers shorten or contract, generating force and movement in the body.

Extraembryonic Membrane

These are membranes outside the embryo that play vital roles in development and exchange in vertebrate embryos, such as the amnion, chorion, and others.

Neural Plate

The neural plate is a key developmental structure that serves as the foundation for the nervous system, forming from ectoderm and eventually folding to become the neural tube.

Blastocyst

The mammalian blastula. See blastula.