Question
Glen Company has the following data pertaining to the year ended December 31: Purchases $450,000 Beginning inventory 170,000 Ending inventory 210,000 Freight-in 50,000 Freight-out 75,000
Glen Company has the following data pertaining to the year ended December 31:
| Purchases | $450,000 |
| Beginning inventory | 170,000 |
| Ending inventory | 210,000 |
| Freight-in | 50,000 |
| Freight-out | 75,000 |
|
How much is the cost of goods sold for the year? |
|
| A. | A. $385,000 | |
| B. | B. $460,000 | |
| C. | C. $485,000 | |
| D. | D. $535,000 |
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Oil And Gas Accounting
Authors: Steven M. Bragg
2nd Edition
1642210668, 9781642210668
