Item 7 At the end of Year 1, Voss Company had $11,200 of inventory. During Year 2 the following events occurred: (1) Voss Company purchased $11,600 of inventory with cash. (2) Sold $18,200 of inventory for $26,400 cash to customers. (3) At the end of the year, a physical count of the inventory found only $1,320 of inventory on hand. What would Voss Company report for cost of goods sold on the Year 2 income statement? Item 7 At the end of Year 1, Voss Company had $11,200 of inventory. During Year 2 the following events occurred: (1) Voss Company purchased $11,600 of inventory with cash. (2) Sold $18,200 of inventory for $26,400 cash to customers. (3) At the end of the year, a physical count of the inventory found only $1,320 of inventory on hand. What would Voss Company report for cost of goods sold on the Year 2 income statement?

Multiple Choice $21,480 $18,200 $3,280 None of these answers is correct