A Merchandiser Uses a Perpetual Inventory System

Multiple Choice

A merchandiser uses a perpetual inventory system.The beginning Owner,Capital balance of the merchandiser was $120,000.During the year,Sales Revenue amounted to $80,000,Cost of Goods Sold was $45,000,and all other expenses totaled $12,000.Owner withdrawals were $27,000.There were no new capital contributions during the year.The ending balance of Owner,Capital would be ________.

A) $143,000
B) $116,000
C) $170,000
D) $120,000