If a merchandising company has a beginning finished goods inventory of $400,000 and a finished goods ending inventory of $200,000, and the company purchased $1,600,000 of inventory during the month, what is the companys cost of goods sold ...

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If a merchandising company has a beginning finished goods inventory of $400,000 and a finished goods ending

Question:

If a merchandising company has a beginning finished goods inventory of $400,000 and a finished goods of $200,000, and the company purchased $1,600,000 of inventory during the month, what is the company’s cost of goods sold?

Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =...