Question
Dave's Duds reported the cost of goods sold of $1,300,000 this year. The inventory account increased by $240,000 during the year to an ending balance
Dave's Duds reported the cost of goods sold of $1,300,000 this year. The inventory account increased by $240,000 during the year to an ending balance of $495,000. What was the cost of merchandise that Dave's purchased during the year?
a. $1,540,000.
b. $1,060,000.
c. $1,795,000.
d. $805,000.
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Financial and Managerial Accounting the basis for business decisions
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
16th edition
0077664078, 978-0077664077, 78111048, 978-0078111044
