Answer:
D. $134, 600
Explanation:
Purchases $140,600
Operating expenses 80,900
Beginning inventory 12,600
Ending inventory 18,600
Sales revenue 300,300
Cost of Goods sold Formula:
Cost of Goods Sold = Beginning inventory + Purchases - Ending inventory
Cost of Goods Sold = 12600 + 140,600 - 18,600
Cost of Goods Sold = 134,600
The correct option is D. $134, 600.
Answer:
D. $134, 600
Explanation:
If Tuity Fruity Beverage Company's operating activities for the year are listed below.
Purchases $140,600
Operating expenses 80,900
Beginning inventory 12,600
Ending inventory 18,600
Sales revenue 300,300
Then the cost of goods sold for the year using the T account formula, will be as follows:
Beginning Inventory + Purchases - Ending Inventory = Cost of Goods Sold.
Therefore Cost of Goods Sold = 12600+140600 – 18600 = $134,600
