Finney's MMA Gym had a total of $1,300 worth of boxing gloves on June 1. The ending inventory for the month was $524. What was the cost of goods sold for June?

Name: Finney's MMA Gym had a total of $1,300 worth of boxing gloves on June 1. The ending inventory for the month was $524. What was the cost of goods sold for June?
Brand: Quizplus
Rating: 4.9 (50 reviews)

Question

Quizplus · Accepted Answer

The cost of goods sold is calculated by subtracting the ending inventory from the beginning inventory. So, $1,300 - $524 = $776.

Finney's MMA Gym Had a Total of $1,300 Worth of Boxing