Taylor Co.had beginning inventory of $400 and ending inventory of $600.Taylor Co.had cost of goods sold amounting to $1,800.What is the amount of inventory that was purchased during the period?

Question

Quizplus · Accepted Answer

Beginning inventory + Purchases -Ending inventory = Cost of goods sold
$400 + Purchases - $600 = $1,800
Purchases = $1,800 - $400 + $600 = $2,000

Taylor CoHad Beginning Inventory of $400 and Ending Inventory of $600