Question: Given the following information for Circuits Plus, an electronics retailer, compute the cost of goods sold. Website maintenance............................................................................... $ 7,000 Delivery expenses.................................................................................... 1,000 Freight-in ................................................................................................

Given the following information for Circuits Plus, an electronics retailer, compute the cost of goods sold.
Website maintenance............................................................................... $ 7,000
Delivery expenses.................................................................................... 1,000
Freight-in ................................................................................................ 3,000
Import duties........................................................................................... 1,000
Purchases ................................................................................................ 40,000
..................................................................................... 5,500
Revenues................................................................................................. 60,000
Marketing expenses................................................................................. 10,000
Beginning inventory................................................................................ 3,500

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