The following information is available for Allsport Company. What amount was paid for merchandise during the current year? (2016)?

Cost of goods sold	$525,000
Merchandise? inventory, 12/31/15	85,000
Merchandise? inventory, 12/31/16	132,000
Accounts? Payable, 12/31/15	100,500
Accounts? Payable, 12/31/16	100,300

A.

$571,800

B.

$525,000

C.

$572,200

D.

$477,800

Liberty, Inc. has the following list of?inventory:

Item	Unit Cost	Selling Price
ELF	$13,287	$20,322
ICF	$6,780	$7,234
CKS	$18,312	$19,823
PCC	$9,384	$11,244
CRD	$ $27,444	$33,449

Under

specific??identification,

What is? Liberty's cost of goods sold if ICF and CRD were not sold during the current? period?

A.

$40,683

B.

$40,983

C.

$34,224

D.

$51,389