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Home Q & A Board Other Fields Homework Help Business Accounting
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mkama mkama
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5 years ago
A company that uses the periodic inventory system provided the following information:

1.Beginning inventory $5,000
2.Purchases $130,000
3.Purchase discounts $2,000
4.Purchase returns and allowances $600

At the end of the period, the company does an inventory count and finds $16,000 worth of inventory on hand. What is the amount of cost of goods sold?
A) $116,400
B) $132,400
C) $148,400
D) $127,400
Textbook 
Horngren's Accounting

Horngren's Accounting


Edition: 11th
Authors:
Read 19 times
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wrote...
#1
5 years ago
 A
Explanation:  A)
 
mkama Author
wrote...
#2
5 years ago
Mind blown, I've bookmarked this site on told my friends
wrote...
#3
5 years ago
Really appreciate that
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