Nieman Inc. , a local retailer, has provided the following data for the month of March: The cost of goods sold for March was:
A)$146, 000
B)$150, 000
C)$142, 000
D)$237, 000

Question

Nieman Inc. , a local retailer, has provided the following data for the month of March:  The cost of goods sold for March was:
A)$146, 000 
B)$150, 000 
C)$142, 000 
D)$237, 000

Quizplus · Accepted Answer

Cost of goods sold = Beginning merchandise inventory + Purchases of merchandise inventory - Ending merchandise inventory
= $30, 000 + $146, 000 - $34, 000
= $142, 000