kildare post is a retailer of fence posts. At the start of $2020$ their inventory of fence posts was $2000$ pieces that had cost $$5\mathrm{.}00$ each. During the year $2020$ they bought $15,000$ posts at a cost of $$6\mathrm{.}00$ each, totaling $$90,000.$  They sold $16,000$ posts at an average price of $$11\mathrm{.}00,$ totaling $$176,000.$  At the end of $2020$ due to a glut in the market the replacement price of fence posts had fallen to $$4\mathrm{.}00.$  What is the cost of goods sold in $2020?$

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To calculate the Cost of Goods Sold COGS for Kildare Post in 2020 we need to consider the cost of th... View the full answer