A Company That Uses the Periodic Inventory Method Provides the Following

Multiple Choice

A company that uses the periodic inventory method provides the following information: 1. Beginning Inventory $10,000
2. Net Purchases $90,000
At the end of the period, the company does an inventory count and finds $15,000 of inventory on hand.
What is the amount of Cost of goods sold?

A) $90,000
B) $115,000
C) $85,000
D) $75,000