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23 September, 21:27

Tuity Fruity Beverage Company's operating activities for the year are listed below. Purchases $140,000Operating expenses$80,900Beginning inventory$12,300Ending inventory$18,300Sales revenue$300,000What is the cost of goods sold for the year?

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  1. 23 September, 21:42
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    COGS = 12,300 + 140,000 - 18,300 = $134,000

    Explanation:

    Giving the following information:

    Purchases $140,000

    Operating expenses $80,900

    Beginning inventory $12,300

    Ending inventory $18,300

    Sales revenue $300,000

    COGS=Beginning Inventory+Production during period-Ending Inventory

    COGS = 12,300 + 140,000 - 18,300 = $134,000
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