13 & 14

Question 13 3 pts Jameson's Warm Beverages Corp has beginning inventory for the year of $12,000. During the year, Jameson purchases inventory for $150,000 and ends the year with $20,000 of inventory. Jameson will report cost of goods sold equal to O $150.000 $142.000 $ 158,000 O $170.000 3 pts Question 14 What type of account is Cost of Goods Sold? Contra Revenue Expense O Contra Asset O Liability