T-accounts for the inventory accounts of the Arturo Manufacturing Company are shown below. This data represents transactions for the year of 2012.
-Based on the data shown here, what was the amount of the cost of goods sold?
A) $598,500
B) $591,000
C) $42,000
D) $7,500

Question

T-accounts for the inventory accounts of the Arturo Manufacturing Company are shown below. This data represents transactions for the year of 2012.  
-Based on the data shown here, what was the amount of the cost of goods sold?
A) $598,500 
B) $591,000 
C) $42,000 
D) $7,500

Quizplus · Accepted Answer

The cost of goods sold (COGS) is calculated by adding purchases to the opening inventory and then subtracting the closing inventory. Without specific data provided in the question, the correct answer cannot be directly calculated or inferred. However, based on the options given and common financial practices, option A seems to be the most plausible high-value figure typically associated with COGS, assuming it involves substantial inventory movement.

T-Accounts for the Inventory Accounts of the Arturo Manufacturing Company