I want to correct answer general accounting A company starts the month with beginning inventory of $5,000. During the month,purchases are $15,000. The ending inventory is $4,000. Calculate the cost of goods sold(COGS).Options:1. (a) $16,0002. (b) $14,0003. (c) $12,0004. (d) $18,000

Step 1: Step 2: Beginning Inventory = $5,000Purchases = $15,000Ending Inventory = $4,000 Step 3:…

Answered: A company starts the month with…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 6EB: Langstons purchased $3,100 of merchandise during the month, and its monthly income statement shows a...

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Logo Gear purchased $2,250 worth of merchandise during the month, and its monthly income statement shows cost of goods sold of $2,000. What was the beginning inventory if the ending inventory was $1,000?
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Please provide this question solution accounting
The invoice price of goods purchased is $10,000 with purchase terms of 4/7, n/30 and FOB shipping point. The invoice is paid within the week of receipt and shipping costs are $200. By what amount should the purchaser's Inventory be increased?

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A company starts the month with beginning inventory of $5,000. During the month, purchases are $15,000. The ending inventory is $4,000. Calculate the cost of goods sold (COGS). Options: 1. (a) $16,000 2. (b) $14,000 3. (c) $12,000 4. (d) $18,000