[The Following Information Applies to the Questions Displayed Below

question 50

Multiple Choice

[The following information applies to the questions displayed below.]
Soriano Company had net sales of $300,000 for the month (after returns and allowances of $1,500 and sales discounts of $3,250) .Beginning inventory for the month was $60,000;purchases for the month were $175,000;and gross profit was 43%.
-Refer to the information above.What were the goods available for sale for the month?

• A)$129,000
• B)$171,000
• C)$235,000
• D)$304,750

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Definitions:

Signoria

A form of government in Italian city-states during the medieval and Renaissance periods, characterized by rule by a single lord or a hereditary ruling family.

Medici

A powerful and influential family in Florence, Italy, during the Renaissance, known for their support of the arts, significant political control, and the production of four popes.

Merchant Capitalism

An early phase in the development of capitalism where trade and the merchant class played a primary role in economic life.

Condottieri

Condottieri were leaders of mercenary soldiers in Italy during the Middle Ages and Renaissance, hired by city-states and the papacy for military purposes.