Summerville Company Sells Office Supplies -What Is Cost of Goods Sold?
A)$ 73,000
B)$ 93,000

Summerville Company sells office supplies.The following information summarizes the company's operating activities for the year: $$\begin{array} { | l | r | } \hline \text { Utilities far the stare } &\$8 , 0 0 0 \\\hline \text { Sales comrissions } & 11,000 \\\hline \text { Sales revenue } & 151,000 \\\hline \text { Purchases of merchandise } & 73,000 \\\hline \text { January 1 inventary } & 27,000 \\\hline \text { Rent for stare } & 12,000 \\\hline \text { December 31 inventory } & 23,000 \\\hline\end{array}$$
-What is cost of goods sold?

A) $ 73,000
B) $ 93,000
C) $100,000
D) $ 77,000