Chen's Department Store
Chen's Department Store is a merchandising company that uses the periodic inventory system.Selected account balances are listed below:
-Refer to the account information for Chen's Department Store Calculate Chen's cost of goods purchased

Question

Chen's Department Store
Chen's Department Store is a merchandising company that uses the periodic inventory system.Selected account balances are listed below: 
-Refer to the account information for Chen's Department Store Calculate Chen's cost of goods purchased

Quizplus · Accepted Answer

Cost of goods purchased = Beginning inventory + Purchases - Ending inventory= $15,000 + $90,000 - $12,000= $93,000

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