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23 September, 00:14

Monte Vista uses the perpetual inventory system. At the beginning of the quarter, Monte Vista has $39,000 in inventory. During the quarter the company purchases $9,250 of new inventory from a vendor, return $850 of inventory to the vendor, and took advantage of discounts from the vendor of $290. At the end of the quarter the balance in inventory is $31,000.

Required:

1. What is the cost of goods sold?

A. $17,250B. $17,750C. $8,000D. $16,110

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  1. 23 September, 00:20
    0
    D. 16,110

    39,000+9,250=48,250

    48,250 - (850+290) = 47,110

    47,110-31,000=16,110
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