Figure 2-15 Information from the records of Chrome Ponies Enterprises for June 2014 is as follows:
Refer to Figure 2-15. What is the cost of goods sold?
A) $36,500
B) $28,600
C) $29,400
D) $29,500

Question

Figure 2-15 Information from the records of Chrome Ponies Enterprises for June 2014 is as follows:
  Refer to Figure 2-15. What is the cost of goods sold?
A) $36,500 
B) $28,600 
C) $29,400 
D) $29,500

Quizplus · Accepted Answer

The cost of goods sold can be calculated by summing up the cost of inventory sold during the month. From the given information, we know that there were two inventory items sold: 11ea8af9_3d92_0204_b2e9_311e662feab3_TB2044_00 and 11ea8af9_3d92_2915_b2e9_47ead511221a_TB2044_00. The cost of the first item is $23,000 and the cost of the second item is $6,400, so the total cost of goods sold is $23,000 + $6,400 = $29,400. Therefore, the correct answer is C.

Figure 2-15 Information from the Records of Chrome Ponies Enterprises