Inventory on January 1 and December 31 is $41,500 and $47,000, respectively. During the year, cash paid to suppliers of inventory is $100,000. If all purchases of inventory are for cash, how much is the current year's cost of goods sold?

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The Answer of Inventory on January 1 and December 31 is $41,500 and $47,000, respectively. During the year, cash paid to suppliers of inventory is $100,000. If all purchases of inventory are for cash, how much is the current year's cost of goods sold?

Inventory on January 1 and December 31 Is $41,500 and $47,000