Better Gardens, Inc., which uses a periodic inventory system, shows the following on December 31, 2019.
The cost of goods sold for the year 2019 is:

Question

Better Gardens, Inc., which uses a periodic inventory system, shows the following on December 31, 2019.
 The cost of goods sold for the year 2019 is:

Quizplus · Accepted Answer

Cost of goods sold = Beginning inventory + (Purchases - Purchase discounts + Freight-in - Purchase returns) - Ending inventory
X = $100,500 + ($630,030 - $16,800 + $23,400 - $19,200) - $86,400
X = $631,530