Nieman Inc. ,a local retailer,has provided the following data for the month of March: The cost of goods sold for March was:
A)$146,000
B)$150,000
C)$142,000
D)$237,000

Question

Nieman Inc. ,a local retailer,has provided the following data for the month of March:  The cost of goods sold for March was:
A)$146,000 
B)$150,000 
C)$142,000 
D)$237,000

Quizplus · Accepted Answer

Cost of goods sold = Beginning merchandise inventory + Purchases of merchandise inventory - Ending merchandise inventory
= $30,000 + $146,000 - $34,000
= $142,000