Question 22 (2 points)

1. The amount paid for the goods that a company sells during a period is shown in its financial statements as (1) ___________ and the amount paid for the goods that a company still has on hand at the end of the year is shown in the financial statements as (2) ____________.

Question 22 options:

	(1) sales revenue (2) cost of goods sold
	(1) goods on hand (2) inventory expense
	(1) cost of goods sold (2) inventory
	(1) inventory (2) cost of goods sold