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

Question 81

Multiple Choice

Use this information to answer the following question.  Account Name  Debit  Credit  Sales 303,000 Sales Returns and Allowances 10,000 Purchases 68,000 Purchases Returns and Allowances 8,000 Freight-In 12,000 Selling Expenses 30,000 General and Administrative Expenses 110,000\begin{array}{|l|r|r|}\hline \text { Account Name } & \text { Debit } & \text { Credit } \\\hline \text { Sales } & & 303,000 \\\text { Sales Returns and Allowances } & 10,000 & \\\text { Purchases } & 68,000 & \\\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 sales for the period were


A) $303,000.
B) $273,000.
C) $293,000.
D) $213,000.

Correct Answer:

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