George's Department Store is a merchandising company that uses the periodic inventory system. Selected account balances are listed below: Sales $200,000 Purchases 90,000 Inventory (beginning) 23,000 Inventory (ending) 17,000 Purchase returns and allowances 3,000 Purchase discounts 7,000 Transportation-in 4,000 Sales discounts 8,000 Sales returns and allowances 5,000 Refer to the account
information for George's Department Store Calculate George's cost of goods purchased
a. $ 90,000
b. $ 84,000
c. $ 117,000
d. $ 103,000
b
Business
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