Question

Credit sales for the month totaled $323,000. The cost of the goods sold was $161,500.

A) $484,500
B) $161,500
C) $323,000
D) $161,000

Answer 1

The information provided does not clearly indicate which answer the student is looking for, but if the question is asking for the sum of credit sales and the cost of goods sold, the correct answer would be $484,500.

Step-by-step explanation:

The question seems to be asking about an accounting or business-related concept, specifically addressing the topic of sales and cost of goods sold. However, the information provided from Chapter 7 and about the merchandise balance of trade does not directly answer the question posed. Instead, it appears that the student has been presented with a calculation error or is seeking confirmation of a financial statement value.

Without additional context, it is difficult to determine what the right answer is to the incomplete question provided. The answer options A) through D) suggest that the question might be looking for the sum of credit sales and the cost of goods sold, or perhaps just confirmation of one of these values. If we are to add the credit sales and the cost of goods sold, the total would be $323,000 (credit sales) + $161,500 (cost of goods sold) = $484,500.