Question
For the current fiscal year, Purchases were $170,000, Purchase Returns and Allowances were $3,200 and Freight In was $11,000. If the beginning merchandise inventory was
For the current fiscal year, Purchases were $170,000, Purchase Returns and Allowances were $3,200 and Freight In was $11,000. If the beginning merchandise inventory was $120,000 and the ending merchandise inventory was $77,000, the Cost of Goods Sold is:
Multiple Choice
- $198,800
- $220,800
- $227,200
- $112,800
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Financial Accounting Tools for Business Decision Making
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
5th Edition
9781118560952, 1118560957, 978-0470239803
