Tulsa Company, (a merchandising co.) has the following data pertaining to the year ended December 31, 2019: (CPA adapted)
$$\begin{array} { l r }
\text { Purchases } & \$ 450,000 \
\text { Beginning inventory } & 170,000 \
\text { Ending inventory } & 210,000 \
\text { Freight-in } & 50,000 \
\text { Freight-out } & 75,000
\end{array}$$
What is the cost of goods sold for the year?
A) $385,000
B) $460,000
C) $485,000
D) $536,000

Question

Tulsa Company, (a merchandising co.) has the following data pertaining to the year ended December 31, 2019: (CPA adapted)
$$\begin{array} { l r } 
\text { Purchases } & \$ 450,000 \
\text { Beginning inventory } & 170,000 \
\text { Ending inventory } & 210,000 \
\text { Freight-in } & 50,000 \
\text { Freight-out } & 75,000
\end{array}$$
What is the cost of goods sold for the year?
A) $385,000
B) $460,000
C) $485,000
D) $536,000

Quizplus · Accepted Answer

The Answer of Tulsa Company, (a merchandising co.) has the following data pertaining to the year ended December 31, 2019: (CPA adapted)
$$\begin{array} { l r } 
\text { Purchases } & \$ 450,000 \
\text { Beginning inventory } & 170,000 \
\text { Ending inventory } & 210,000 \
\text { Freight-in } & 50,000 \
\text { Freight-out } & 75,000
\end{array}$$
What is the cost of goods sold for the year?
A) $385,000
B) $460,000
C) $485,000
D) $536,000

Tulsa Company, (A Merchandising Co What Is the Cost of Goods Sold for the Year