A lamp store purchased $3600 of lamps in September. The store had $1400 of lamps on hand at the beginning of September, and expected to have $1600 of lamps at the end of September to cover part of anticipated October sales. What is the budgeted cost of goods sold for September?

Question

Quizplus · Accepted Answer

The budgeted cost of goods sold for September is calculated as: Beginning Inventory + Purchases - Ending Inventory = $1400 + $3600 - $1600 = $3400.

A Lamp Store Purchased $3600 of Lamps in September