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A Company That Uses the Periodic Inventory Method Provides the Following

Question 149

Multiple Choice

A company that uses the periodic inventory method provides the following information:
 Beginning inventory $4,000 Net Purchases $85,000\begin{array} { l r } \text { Beginning inventory } & \$ 4,000 \\\text { Net Purchases } & \$ 85,000\end{array}
At the end of the period,the company does an inventory count and finds $9,000 of inventory on hand.
How much is the Cost of goods sold?


A) $98,000
B) $72,000
C) $80,000
D) $90,000

Correct Answer:

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