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Given the Following Data, What Is Cost of Goods Sold

Question 95

Multiple Choice

Given the following data, what is cost of goods sold?  Sales revenue $950,000 Beginning inventory 150,000 Ending inventory 230,000 Purchases 720,000\begin{array} { | l | r | } \hline \text { Sales revenue } & \$ 950,000 \\\hline \text { Beginning inventory } & 150,000 \\\hline \text { Ending inventory } & 230,000 \\\hline \text { Purchases } & 720,000 \\\hline\end{array}


A) $870,000
B) $640,000
C) $570,000
D) $510,000

Correct Answer:

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