A Company's Cost of Goods Sold Was $4,000

Multiple Choice

A company's cost of goods sold was $4,000.Determine net purchases and ending inventory given goods available for sale were $11,000 and beginning inventory was $5,000.

A) Net Purchases: $15,000; ending inventory: $7,000
B) Net Purchases: $10,000; ending inventory: $15,000
C) Net Purchases: $9,000; ending inventory: $6,000
D) Net Purchases: $6,000; ending inventory: $7,000
E) Net Purchases: $16,000; ending inventory: $20,000