A company had beginning inventory of $5,000, ending inventory of $7,000, and purchases of $ 25,000 during the year. What is the cost of goods sold (COGS)? • A) $23,000 • B) $27,000 ⚫C) $33,000 ⚫D) $25,000
A company had beginning inventory of $5,000, ending inventory of $7,000, and purchases of $ 25,000 during the year. What is the cost of goods sold (COGS)? • A) $23,000 • B) $27,000 ⚫C) $33,000 ⚫D) $25,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:A company had beginning inventory of $5,000,
ending inventory of $7,000, and purchases of $
25,000 during the year. What is the cost of goods
sold (COGS)?
• A) $23,000
• B) $27,000
⚫C) $33,000
⚫D) $25,000
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