Carr Corporation has provided the following information for its most recent month of operation:
Sales $8,000; beginning inventory $1,000; ending inventory $2,000 and gross profit $5,000.How much were Carr's inventory purchases during the period?
A)$9,000
B)$5,000
C)$6,000
D)$4,000

Question

Quizplus · Accepted Answer

Sales ($8,000) - Cost of goods sold ($3,000) = Gross profit ($5,000)Beginning inventory ($1,000) + Purchases ($4,000) - Ending inventory ($2,000) = Cost of goods sold ($3,000)

Carr Corporation Has Provided the Following Information for Its Most