Multiple Choice
Assuming that net cost of purchases was $39,000 during the year and that ending merchandise inventory was $1,000 less than the beginning merchandise inventory of $12,500,how much was cost of goods sold?
A) $50,500
B) $52,500
C) $40,000
D) $38,000
Correct Answer:
Verified
Correct Answer:
Verified
Q145: Adding together the ending merchandise inventory and
Q146: Use this information to answer the following
Q147: Use this information to answer the following
Q148: The terms "2/10,n/30" mean that a 2
Q149: When a U.S.company does business with a
Q151: The following lettered items represent a classification
Q152: A company would be more likely to
Q153: With the periodic inventory system,cost of goods
Q154: If it takes Diamondback Enterprises 90 days
Q155: Brendan Company sold merchandise worth $1,600 on