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The Following Information Is Available for Leno Company Leno's Cost of Goods Sold Is
A) $258500

Question 162

Multiple Choice

The following information is available for Leno Company:  Sales Revenue $390,000 Freight-In $20,000 Ending Inventory 35,500 Purchase Returns and Allowances 12,000 Purchases 274,000 Beginning Inventory 43,000\begin{array} { l r l r } \text { Sales Revenue } & \$ 390,000 & \text { Freight-In } & \$ 20,000 \\\text { Ending Inventory } & 35,500 & \text { Purchase Returns and Allowances } & 12,000 \\\text { Purchases } & 274,000 & \text { Beginning Inventory } & 43,000\end{array} Leno's cost of goods sold is


A) $258500.
B) $282000.
C) $289500.
D) $337000.

Correct Answer:

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