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At the end of last year, Games-2-Use had merchandise costing $200.000 in inventory. During January of the current year, the company purchased merchandise costing $122,000,
At the end of last year, Games-2-Use had merchandise costing $200.000 in inventory. During January of the current year, the company purchased merchandise costing $122,000, and sold merchandise that it had purchased at a total cost of $108,000. Games-2-Use uses a perpetual inventory system, The amount of goods transferred from the Inventory account to the Cost of Goods Sold account during January was Multiple Choice $92.000 SO O $122.000 SOB.ODO
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