Question
The following is from Goldman Inc.'s 2017 income statement. Purchases$172,000Transportation-in11,000Inventory, January 1, 201726,500Inventory, December 31, 201728,800Purchase returns and allowances8,400 How much will Goldman report as
The following is from Goldman Inc.'s 2017 income statement.
Purchases$172,000Transportation-in11,000Inventory, January 1, 201726,500Inventory, December 31, 201728,800Purchase returns and allowances8,400
How much will Goldman report as its cost of goods sold in its 2017 income statement?
a.$161,500
b.$172,300
c.$161,300
d.None of these choices are correct.
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Intermediate Accounting 2014 FASB Update
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
15th edition
978-1118938782, 111893878X, 978-1118985311, 1118985311, 978-1118562185, 1118562186, 978-1118147290
