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The Cost of Goods Sold Equation Is

Question 83

Multiple Choice

The cost of goods sold equation is:

A) Beginning inventory + Purchases + Purchase discounts + Purchase returns and allowances - Counted ending inventory = Cost of Goods Sold.
B) Beginning inventory - Purchases - Purchase discounts - Purchase returns and allowances - Counted ending inventory = Cost of Goods Sold.
C) Beginning inventory + Purchases - Purchase discounts - Purchase returns and allowances - Counted ending inventory = Cost of Goods Sold.
D) Beginning inventory + Purchases - Purchase discounts - Purchase returns and allowances + Counted ending inventory = Cost of Goods Sold.

Correct Answer: