Taylor Company had beginning inventory of $400 and ending inventory of $600. Taylor Company had cost of goods sold amounting to $1,800. What is the amount of inventory that was purchased during the period?

Question

Quizplus · Accepted Answer

To calculate the amount of inventory purchased during the period, we can use the formula: 
Beginning Inventory + Purchases - Ending Inventory = Cost of Goods Sold 
Plugging in the given values, we get: 
$400 + Purchases - $600 = $1,800 
Solving for Purchases, we get: 
Purchases = $2,000 
Therefore, the correct answer is C) $2,000.

Taylor Company Had Beginning Inventory of $400 and Ending Inventory