If a taxpayer has beginning inventory of $25,000, purchases of $175,000, and ending inventory of $45,000, what

Question:

If a taxpayer has beginning inventory of $25,000, purchases of $175,000, and ending inventory of $45,000, what is the amount of the cost of goods sold for the current year?

a. $155,000.

b. $180,000

c. $175,000

d. $200,000

e. None of the above

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 =...

Fantastic news! We've Found the answer you've been seeking!