If beginning inventory is $6,000,ending inventory is $3,000,net purchases are $12,000 and Freight-in is $400,what is the Cost of Goods Sold?
A)$17,400
B)$17,000
C)$15,400
D)$14,000

Question

Quizplus · Accepted Answer

Cost of Goods Sold (COGS) is calculated as: Beginning Inventory + Net Purchases + Freight-in - Ending Inventory. So, $6,000 + $12,000 + $400 - $3,000 = $15,400.

If Beginning Inventory Is $6,000,ending Inventory Is $3,000,net Purchases Are