From the Following Details of a Merchandiser,calculate the Cost of Goods

question 144

Multiple Choice

From the following details of a merchandiser,calculate the Cost of Goods Sold.(Assume the merchandiser uses the periodic inventory system. ) $$\begin{array} { | l | r | } \hline \text { Net Sales } & \$ 198,000 \\\hline \text { Purchases } & 92,000 \\\hline \text { Purchase Returns and Allowances } & 1,800 \\\hline \text { Purchase Discounts } & 1,400 \\\hline \text { Freight In } & 1,350 \\\hline \text { Beginning Merchandise Inventory } & 62,000 \\\hline \text { Ending Merchandise Inventory } & 36,000 \\\hline\end{array}$$

• A)$116,150
• B)$62,800
• C)$114,800
• D)$54,150

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Racism

Prejudice, discrimination, or antagonism directed against someone of a different race based on the belief that one's own race is superior.

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Median Income

A statistical measure that divides the income distribution into two equal groups, half having income above that amount, and half having income below that amount.