90.2K
Verified Solution
Link Copied!
Porches, Inc. sells lawn furniture. Selected financial information for the most recent year follows.
Beginning merchandise inventory on January 1 was
$33,800.
Ending merchandise inventory on December 31 was
$35,700.
Purchases during the year were
$92,200.
Selling and administrative expenses were
$75,100.
Sales for year were
$262,600.
What was cost of goods sold?
A) 90,300
B) 94,100
C) 95,300
D) 161,700
Answer & Explanation
Solved by verified expert
