Tulsa Company, (a merchandising Co.) has the following data pertaining to the year ended December 31, 2016:
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Question:
Tulsa Company, (a merchandising Co.) has the following data pertaining to the year ended December 31, 2016: (CPA adapted)
Purchases | $ | 450,000 | |
Beginning inventory | 170,000 | ||
Ending inventory | 210,000 | ||
Freight-in | 50,000 | ||
Freight-out | 75,000 |
What is the cost of goods sold for the year?
a.) $385,000
b.) $460,000
c.) $485,000
d.) $536,000
Related Book For
Advanced Accounting
ISBN: 978-0134472140
13th edition
Authors: Floyd A. Beams, Joseph H. Anthony, Bruce Bettinghaus, Kenneth Smith
Posted Date: