Given the following data,what is cost of goods sold? $$\begin{array} { l c }
\text { Fales revenue } & \$ 730,000\
\text { Epginninginventory } & 80,000 \
\text { Endinginventory } & 95,000 \
\text { lumcheses of inventory } & 160,000
\end{array}$$
A)$585,000
B)$145,000
C)$570,000
D)$175,000
E)$555,000

Question

Given the following data,what is cost of goods sold? $$\begin{array} { l c } 
\text { Fales revenue } & \$ 730,000\
\text { Epginninginventory } & 80,000 \
\text { Endinginventory } & 95,000 \
\text { lumcheses of inventory } & 160,000
\end{array}$$
A)$585,000
B)$145,000
C)$570,000
D)$175,000
E)$555,000

Quizplus · Accepted Answer

Cost of Goods Sold (COGS) is calculated as: Beginning Inventory + Purchases - Ending Inventory = $80,000 + $160,000 - $95,000 = $145,000.

Given the Following Data,what Is Cost of Goods Sold A)$585,000 B)$145,000 C)$570,000 D)$175,000 E)$555,000

Given the Following Data,what Is Cost of Goods Sold A)$585,000
B)$145,000
C)$570,000
D)$175,000
E)$555,000