Answer the following questions using the information below:
For last year, Lewisburn Manufacturing reported the following:

-What was Lewisburn's cost of goods sold?
A)$103,000
B)$152,000
C)$268,000
D)$317,000

Question

Answer the following questions using the information below:
For last year, Lewisburn Manufacturing reported the following:
 
-What was Lewisburn's cost of goods sold?
A)$103,000 
B)$152,000 
C)$268,000 
D)$317,000

Quizplus · Accepted Answer

Lewisburn's cost of goods sold is $103,000. This is calculated by taking the beginning inventory of $52,000, adding the purchases of $152,000, and subtracting the ending inventory of $103,000.

Answer the Following Questions Using the Information Below