What is the company's Cost of Goods Sold?

Question

Quizplus · Accepted Answer

To calculate the Cost of Goods Sold, we need to add the beginning inventory to the purchases made during the year and then subtract the ending inventory.

Beginning inventory = $28,420
Purchases = $237,720
Ending inventory = $126,579.50

Cost of Goods Sold = Beginning Inventory + Purchases - Ending Inventory
Cost of Goods Sold = $28,420 + $237,720 - $126,579.50
Cost of Goods Sold = $139,561.50

Therefore, the correct answer is B.

What Is the Company's Cost of Goods Sold