Bijoux Company has sales of $40,000,beginning inventory of $5,000,purchases of $25,000,and ending inventory of $7,000.The cost of goods sold is:
A) $23,000
B) $30,000
C) $40,000
D) $17,000

Question

Quizplus · Accepted Answer

The cost of goods sold (COGS) is calculated as: Beginning Inventory + Purchases - Ending Inventory. So, $5,000 + $25,000 - $7,000 = $23,000.

Bijoux Company Has Sales of $40,000,beginning Inventory of $5,000,purchases of $25,000,and