Which of the following is correct?
A) Beginning Inventory + Ending Inventory - Purchases = Cost of Goods Sold.
B) Income Before Taxes - Operating Expenses = Cost of Goods Sold.
C) Sales + Cost of Goods Sold = Gross Margin.
D) Beginning Inventory + Purchases - Cost of Goods Sold = Ending Inventory.

Question

Quizplus · Accepted Answer

The formula for calculating the ending inventory is: Beginning Inventory + Purchases - Cost of Goods Sold = Ending Inventory.

Which of the Following Is Correct