Cost of Goods Sold Is Equal to

Multiple Choice

Cost of goods sold is equal to

A) the total amount of merchandise purchased during the year.
B) the cost of merchandise purchased plus transportation-in costs less ending inventory.
C) the cost of merchandise purchased plus transportation-in costs plus beginning inventory minus purchase returns and allowances and purchase discounts minus ending inventory.
D) the cost of merchandise purchased plus transportation-in costs plus beginning inventory minus purchase returns and allowances and purchase discounts.