Question
Oaktree, Inc. is a merchandiser of inlaid wooden boxes. The company sold 7,000 units during the year. The company has provided the following information:
Oaktree, Inc. is a merchandiser of inlaid wooden boxes. The company sold 7,000 units during the year. The company has provided the following information: Sales Revenue $590,000 Purchases (excluding freight in) 301,000 Selling and Administrative Expenses 69,000 Freight In 14,000 Beginning Merchandise Inventory 46,000 Ending Merchandise Inventory 43,000 What is the cost of goods sold for the year? OA. $304,000 B. $312,000 OC. $318,000 OD. $361,000
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Principles of Accounting
Authors: Needles, Powers, crosson
11th Edition
1439037744, 978-1133626985, 978-1439037744
