22. ABC Corporation has the following items to be used for the computation of its Cost of Goods Sold : Beginning Inventory $120,000; Purchases $450,000; Purchases Discount and Returns $100,000; Labor Costs $250,000; Factory Overhead & Other Costs $ 800,000. The Ending Inventory $450,000. Its Cost of Goods Sold is:

a. $1,520,000 b. $ 720,000 c. $1, 070,000 d. $1,120,000 e. None of the above.

Answer rating: 100% (QA)

Beginning Inventory 120000 Purchases 450000 Purchases Discount and Returns 100000 Endi... View the full answer