Beginning merchandise inventory less purchases made during the fiscal period plus ending inventory equals cost of merchandise sold.

Name: Beginning merchandise inventory less purchases made during the fiscal period plus ending inventory equals cost of merchandise sold.
Brand: Quizplus
Rating: 4.9 (38 reviews)

Question

Quizplus · Accepted Answer

The correct formula for calculating the cost of merchandise sold is: Beginning merchandise inventory plus purchases made during the fiscal period minus ending inventory.

Beginning Merchandise Inventory Less Purchases Made During the Fiscal Period