Calculate the Cost of Sales for a Retailer Using the Periodic

question 81

Multiple Choice

Calculate the cost of sales for a retailer using the periodic inventory system from the following details.
$$\begin{array} { | l | l | } \hline \text { Purchases } & \$ 520,000 \\\hline \text { Beginning inventory } & 180,000 \\\hline \text { Purchase returns and allowances } & 50,000 \\\hline \text { Purchase discounts } & 12,000 \\\hline \text { Freight in } & 18,000 \\\hline \text { Ending inventory } & 180,000 \\\hline\end{array}$$

• A) $520,000
• B) $476,000
• C) $836,000
• D) $494,000

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Definitions:

Blood Glucose Level

The concentration of glucose present in the blood, a critical parameter in managing diabetes.

Insulin

A hormone produced by the pancreas that regulates blood sugar levels by allowing cells to take in glucose.

Type 2 Diabetes Mellitus

A metabolic disorder characterized by high blood sugar levels over a prolonged period due to insulin resistance.

Insulin Shock

A severe hypoglycemic event caused by an excess of insulin in the body, leading to low blood sugar levels, confusion, and potentially loss of consciousness.