A sporting goods store purchased $4,500 of ski boots in September. The store had $2,000 of ski boots on hand at the beginning of September, and expected to have $2,500 of ski boots at the end of September to cover part of anticipated October sales. What is the budgeted cost of goods sold for September?

Question

Quizplus · Accepted Answer

The budgeted cost of goods sold for September is calculated as: Beginning Inventory + Purchases - Ending Inventory = $2,000 + $4,500 - $2,500 = $4,000.

A Sporting Goods Store Purchased $4,500 of Ski Boots in September