1Which of the following is the entry used to determine cost of goods sold when the periodic inventory system is used?

2.

Information from the 2010 financial statements of Bravura Corporation is shown below. Calculate the cash paid for merchandise inventory.

Sales	$800,000
Cost of goods sold	600,000
Ending inventory	60,000
Beginning inventory	70,000
Accounts payable, beginning balance	6,000
Accounts payable, ending balance	8,000
Accounts receivable, beginning balance	27,000
Accounts receivable, ending balance	23,000

a

$600,000

b

$588,000

c

$596,000

d

$800,000

Furshase Rhns Purchages Inventory (ending) Cost of Goods Sold AXK XHXX XXXK lnveutory (begiming) Purchases Discounts YOX