Baltimore Company's January 1, 2020 finished goods inventory was $85,000. The January 1, 2021 finished goods inventory is $110,000.  Cost of goods purchased for resale FY 2020 was $310,000. Use this information to determine the dollar amount of the FY 2020 cost of goods sold. Use whole numbers (no cents).

Answer rating: 100% (QA)

To determine the Cost of Goods Sold COGS for FY 2020 we can use the formula textCOGS textBeginn... View the full answer