The following information is available for Plymouth Ltd. for last year: $$\begin{array} { l l }
\text { Freight-in } & \$ 120,000 \
\text { Purchase returns } & 183,000 \
\text { Selling expenses } & 255,000 \
\text { Ending inventory } & 480,000
\end{array}$$ The cost of goods sold is equal to 200% of selling expenses. What is the cost of goods available for sale?
A) Cannot be determined from information given.
B) $447,000
C) $990,000
D) $927,000

Question

The following information is available for Plymouth Ltd. for last year: $$\begin{array} { l l } 
\text { Freight-in } & \$ 120,000 \
\text { Purchase returns } & 183,000 \
\text { Selling expenses } & 255,000 \
\text { Ending inventory } & 480,000
\end{array}$$ The cost of goods sold is equal to 200% of selling expenses. What is the cost of goods available for sale?
A) Cannot be determined from information given.
B) $447,000
C) $990,000
D) $927,000

Quizplus · Accepted Answer

The Answer is C

The Following Information Is Available for Plymouth Ltd The Cost of Goods Sold Is Equal to 200% of Year