Solved

Whitney Company's Cost of Goods Available for Sale for 2012

Question 2

Multiple Choice

Whitney Company's Cost of Goods Available for Sale for 2012 was $610,000.Which of the following statements is true?

A) If the merchandise inventory at the end of the year was $100,000,the Cost of Goods Sold was $510,000.
B) If the merchandise inventory at the end of the year was $100,000,the Cost of Goods Sold was 710,000.
C) If the beginning inventory was $95,000,the Cost of Goods Sold was $515,000.
D) If the beginning inventory was $95,000,the Cost of Goods sold was $705,000.

Correct Answer: