Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN: 9781947172685
Author: OpenStax
Publisher: OpenStax College
Question

please solve this one

If beginning inventory is $60,000, cost of goods purchased is $380,000, and ending inventory is
$50,000, what is the cost of goods sold under a periodic system?
a) $390,000
b) $370,000
c) $330,000
d) $420,000
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Transcribed Image Text:If beginning inventory is $60,000, cost of goods purchased is $380,000, and ending inventory is $50,000, what is the cost of goods sold under a periodic system? a) $390,000 b) $370,000 c) $330,000 d) $420,000
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