Use This Information to Answer the Following Question

question 124

Multiple Choice

Use this information to answer the following question. In addition,beginning merchandise inventory was $22,000 and ending merchandise inventory was $14,000.
Net sales for the period were

• A)$305,000.
• B)$275,000.
• C)$295,000.
• D)$215,000.

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Definitions:

Annual Net Income

The total earnings of a company after all expenses and taxes have been deducted from revenue in a fiscal year.

Tax Rate

The segment of an individual's or corporate's earnings or profits that is taxed.

Net Working Capital

Net working capital is a measure of a company's liquidity, calculated as the difference between its current assets and current liabilities.

Inventory

The total amount of goods and materials held by a business to be sold or used in production, including raw materials, work-in-progress, and finished goods.