Horner Corporation The following information has been taken from the cost records of Horner Corporation for the past year:
Refer to Horner Company. Cost of Goods Sold was

Question

Horner Corporation The following information has been taken from the cost records of Horner Corporation for the past year:
  Refer to Horner Company. Cost of Goods Sold was

Quizplus · Accepted Answer

Based on the information provided, the Cost of Goods Sold for the past year is $746. This can be determined by subtracting the ending inventory from the sum of beginning inventory and purchases, as follows:

Beginning inventory + Purchases - Ending inventory = Cost of Goods Sold
$258 + $514 - $26 = $746

Horner Corporation the Following Information Has Been Taken from the Cost