Use This Information to Answer the Following Question In Addition,beginning Merchandise Inventory Was $22,000 and Ending Merchandise Inventory

question 98

Multiple Choice

Use this information to answer the following question. $\begin{array}{|l|r|r|}\hline \text { Account Name } & \text { Debit } & \text { Credit } \\\hline \text { Sales } & & 300,000 \\\text { Sales Returns and Allowances } & 10,000 & \\\text { Purchases } & 53,000 & \\\text { Purchases Returns and Allowances } & & 8,000 \\\text { Freight-In } & 12,000 & \\\text { Selling Expenses } & 30,000 & \\\text { General and Administrative Expenses } & 110,000 & \\\hline\end{array}$ In addition,beginning merchandise inventory was $22,000 and ending merchandise inventory was $14,000.
Net cost of purchases for the period were

• A) $77,000.
• B) $45,000.
• C) $57,000.
• D) $69,000.

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Definitions:

Debriefing

A process of reflective conversation following an event or activity, aimed at sharing observations and learning outcomes.

Cost Effectiveness

A measure of how economically resources are used to achieve a goal, ensuring minimal waste of effort and expense.

Emotional Damage

Psychological harm caused by experiences that lead to emotional distress and mental suffering.