A company buys 60 refrigerators for $600 each.It sells 40 refrigerators for $1000 each.What is cost of goods sold?
A) $24 000
B) $36 000
C) $40 000
D) None of the answers provided

Question

Quizplus · Accepted Answer

The cost of goods sold (COGS) is calculated based on the cost price of the items sold. The company sold 40 refrigerators, each costing $600. Therefore, COGS = 40 * $600 = $24,000.

A Company Buys 60 Refrigerators for $600 Each