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Artisan Inspiration, Inc. is a merchandiser of stone ornaments. The company sold 7,000 units during the year. The company has provided the following information: Sales Revenue $591,000 Purchases (excluding Freight In) Selling and Administrative Expenses Freight In Beginning Merchandise Inventory Ending Merchandise Inventory 302,000 68.000 14,000 43.000 42.000 What is the operating income for the year? (Round your answer to the nearest whole dollar.) O A. $206,000 O B. $523,000 OC. $274,000 O D. $317,000

Artisan Inspiration, Inc. is a merchandiser of stone ornaments. The company sold 7,000 units during the year. The company has provided the following information: Sales Revenue $591,000 Purchases (excluding Freight In) Selling and Administrative Expenses Freight In Beginning Merchandise Inventory Ending Merchandise Inventory 302,000 68.000 14,000 43.000 42.000 What is the operating income for the year? (Round your answer to the nearest whole dollar.) O A. $206,000 O B. $523,000 OC. $274,000 O D. $317,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Artisan Inspiration, Inc. is a merchandiser of stone ornaments. The company sold 7,000 units during the year. The company has provided the following information: Sales Revenue $591,000 Purchases (excluding Freight In) Selling and Administrative Expenses Freight In Beginning Merchandise Inventory Ending Merchandise Inventory 302.000 68,000 14.000 43,000 42,000 What is the operating income for the year? (Round your answer to the nearest whole dollar.) O A. $206,000 O B. $523,000 OC. $274,000 O D. $317,000
Transcribed Image Text:Artisan Inspiration, Inc. is a merchandiser of stone ornaments. The company sold 7,000 units during the year. The company has provided the following information: Sales Revenue $591,000 Purchases (excluding Freight In) Selling and Administrative Expenses Freight In Beginning Merchandise Inventory Ending Merchandise Inventory 302.000 68,000 14.000 43,000 42,000 What is the operating income for the year? (Round your answer to the nearest whole dollar.) O A. $206,000 O B. $523,000 OC. $274,000 O D. $317,000
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