The cost of merchandise sold from the following data is as follows: sales $80,000, beginning inventory $5,000, purchases $21,800, purchase discounts $790, ending inventory $5,100.
A) $21,560
B) $20,190
C) $20,910
D) $21,650
E) None of these

Question

Quizplus · Accepted Answer

The cost of merchandise sold is calculated as: Beginning Inventory + Purchases - Purchase Discounts - Ending Inventory = $5,000 + $21,800 - $790 - $5,100 = $20,910.

The Cost of Merchandise Sold from the Following Data Is