[The following information applies to the questions displayed below.]
Bremmer uses a periodic inventory system and the following information is available:

-What is the cost of goods sold?
A)$96,800
B)$133,600
C)$132,200
D)$230,400

Question

[The following information applies to the questions displayed below.]
Bremmer uses a periodic inventory system and the following information is available:
 
-What is the cost of goods sold?
A)$96,800 
B)$133,600 
C)$132,200 
D)$230,400

Quizplus · Accepted Answer

The cost of goods sold (COGS) is calculated based on the inventory at the beginning of the period, plus purchases during the period, minus the inventory at the end of the period. Without specific numbers provided for these components, it's not possible to directly calculate COGS or explain why $133,600 is the correct answer. However, in a typical scenario, if $133,600 is identified as the correct choice, it would be based on applying the formula: COGS = Beginning Inventory + Purchases - Ending Inventory.

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