Use the information below to answer the following question(s).Frazer Inc.had the following activities in the year:

-What is Frazer's cost of goods sold?
A)$520,000
B)$464,000
C)$440,000
D)$400,000
E)$516,000

Question

Use the information below to answer the following question(s).Frazer Inc.had the following activities in the year:
 
-What is Frazer's cost of goods sold?
A)$520,000 
B)$464,000 
C)$440,000 
D)$400,000 
E)$516,000

Quizplus · Accepted Answer

Frazer's cost of goods sold is $520,000. This is calculated by adding the beginning inventory to the purchases and then subtracting the ending inventory.

Use the Information Below to Answer the Following Question(s)