Al-Maha Petroleum has beginning inventory of OMR 320,000 and cost of goods purchased of OMR 410,000. The physical inventory indicates that 15,000 units are on hand. The costs applicable to the units are OMR 3.00 per unit. Compute the amount for the cost of goods sold?

a. OMR 785,000

b. OMR 730,000

c. None of these

d. OMR 685,000

Answer rating: 100% (QA)

Cost of goods sold begining inventory pur... View the full answer