Chicago Steel's operating activities for the year are listed below.

What is the cost of goods sold for the year?
A)$1,400,000
B)$750,000
C)$50,000
D)$1,750,000

Name: Chicago Steel's operating activities for the year are listed below. What is the cost of goods sold for the year? A)$1,400,000 B)$750,000 C)$50,000 D)$1,750,000
Brand: Quizplus
Rating: 4.8 (29 reviews)

Question

Chicago Steel's operating activities for the year are listed below.

What is the cost of goods sold for the year?
A)$1,400,000 
B)$750,000 
C)$50,000 
D)$1,750,000

Quizplus · Accepted Answer

A)Calculations: Beginning Inventory $1,000,000 + Purchases $750,000 = Goods Available $1,750,000 - Ending Inventory $350,000 = 1,400,000

Chicago Steel's Operating Activities for the Year Are Listed Below