The Cost of Goods Sold

Multiple Choice

The cost of goods sold:

A) Is the price of the goods sold, including selling and other expenses.
B) Is the price of the goods sold, plus an estimated expense of carrying the inventory in the store or warehouse facility.
C) Is just the price of the goods, not including selling and other expenses.
D) Is a value that is not relevant when it comes to constructing the pro forma income statement.