Northwest Fur Co

question 58

Multiple Choice

Northwest Fur Co.started the year with $94,000 of merchandise inventory on hand.During the year,$400,000 in merchandise was purchased on account with credit terms of 1/15,n/45.All discounts were taken.Northwest paid freight-in charges of $7,500.Merchandise with an invoice amount of $5,000 was returned for credit.Cost of goods sold for the year was $380,000.What is ending inventory?

• A)$112,490.
• B)$112,550.
• C)$116,500.
• D)$120,300.

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Definitions:

Genetic

Relating to the genes or heredity, and their role in determining the characteristics of organisms.

Uterus

The hollow organ within females in which the embryo and fetus develop.

Embryo

An early stage of development in multicellular organisms, in humans, it refers to the period from conception to the eighth week of pregnancy.

Fetus

A developing human from roughly eight weeks after conception until the time of birth, characterized by rapid growth and development of organs and structures.