Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. a company has beginning inventory for the year of

A company has beginning inventory for the year of $13,500. During the year, the company...

50.1K

Verified Solution

Question

Accounting

A company has beginning inventory for the year of $13,500. During the year, the company purchases inventory for $170,000 and ends the year with $21,000 of inventory. The company will report cost of goods sold equal to:

$177,500.

$191,000.

$162,500.

$170,000.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

x P(x) 0 0.15 1 0.1 2 0.3 3 0.45 Find the mean of this probability distribution. Round your answer to one decimal place. 2 x P(x) 0 0.05 1 0.15 2 0.25 3 0.55 Find the standard...

Basic Math
Q

(Future value)  You are hoping to buy a house in the future and recently received an inheritance...

Finance
Q

know the mathematical relationship between surface area and volume, and explain how surface to area volume...

Physics
Q

Ship accident due to loss of resilience. Find the Cases of accidents, causes of accidents, and solutions.

Mechanical Engineering
Q

Rank the energy savings potential of the following EE technologies systems from highest to lowest...

Physics
Q

Construct a triangle with two sides and a median to the third side equal to...

Geometry
Q

Solve the triangle.a=25.53 km, b=20.81 km, c= 18.57 kmFind the measure of angle A. Select...

Basic Math
Q

Consider the function C f x 1 0 x 1 1 20 0 x 1...

Statistics
Q

Princess of Two Brothers Grocery, Inc. has asked you and your team to meet with...

Accounting
Q

A company reports merchandise inventory on December 31 at $250,000 but LCM applied to items...

Accounting
Q

Garden Sales, Inc., sells garden supplies. Management is planning its cash needs for the second...

Accounting
Q

1. Preparation of a Statement of Cash Flows. The president of The Hardcastle Corporation understands...

Accounting