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Using the following information, what is the amount of cost of goods sold? Purchases $32,000 Merchandise inventory, September 1 5,700 Merchandise inventory, September 30 6,370
Using the following information, what is the amount of cost of goods sold?
| Purchases | $32,000 |
| Merchandise inventory, September 1 | 5,700 |
| Merchandise inventory, September 30 | 6,370 |
| Purchase returns and allowances | 1,200 |
| Purchase discounts | 960 |
| Transportation-in | 1,040 |
| Sales | 63,000 |
| Sales returns and allowances | 910 |
a.$30,210
b.$28,130
c.$26,900
d.$20,530
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Financial Accounting an introduction to concepts, methods and uses
Authors: Clyde P. Stickney, Roman L. Weil, Katherine Schipper, Jennifer Francis
13th Edition
978-0538776080, 324651147, 538776080, 9780324651140, 978-0324789003
