Question: Kevin owns a retail store and during the current year

Kevin owns a retail store, and during the current year he purchased $600,000 worth of inventory. Kevin’s beginning inventory was $65,000, and his ending inventory is $75,000. During the year, Kevin withdrew $15,000 in inventory for his personal use. Use Part III of Schedule C below to calculate Kevin’s cost of goods sold for the year.

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  • CreatedJuly 16, 2015
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