Broad,IncHad a Beginning Inventory of $50,000 and an Ending Inventory

Multiple Choice

Broad,Inc.had a beginning inventory of $50,000 and an ending inventory of $80,000.Its Cost of Goods Sold for the year was $970,000.What was the amount of purchases that it made for the year?

A) $940,000
B) $1,000,000
C) $1,050,000
D) $1,060,000