At the end of Year 1, Voss Company had $8,000 of inventory. During Year 2 the following events occurred: (1) Voss Company purchased $10,000 of inventory with cash. (2) Sold $15,000 of inventory for $20,000 cash to customers. (3) At the end of the year, a physical count of the inventory found only $1,000 of inventory on hand. What would Voss Company report for cost of goods sold on the Year 2 income statement?

At the end of Year 1 , Voss Company had $8,000 of inventory. During Year 2 the following events occurred: (1) Voss Company purchased $10,000 of inventory with cash. (2) Sold $15,000 of inventory for $20,000 cash to customers. (3) At the end of the year, a physical count of the inventory found only $1,000 of inventory on hand. What would Voss Company report for cost of goods sold on the Year 2 income statement