Given figures showing: sales $8,200, opening inventory $1,300, closing inventory $900, purchases $6,400, Carriage inwards $200, carriage outwards $100, the cost of sale figure is A. $6,800 B. $6,200 C. $7,000 D. Another figure

Given figures showing: sales $8,200, opening inventory $1,300, closing inventory $900, purchases $6,400, Carriage inwards $200, carriage outwards $100, the cost of sale figure is A. $6,800 B. $6,200 C. $7,000 D. Another figure

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The ending inventory of Misty Harbor Co. is $77,000. If beginning inventory was $76,000 and goods available totaled $129,000, the cost of goods sold is O A. $76,00. O B. $52,000. O C. $53,000. O D. $128,000. O E. none of the above. answer
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