A company's beginning inventory was $50,000, and its ending inventory was $40,000. During the year, the company made purchases amounting to $200,000. What is the company's cost of goods sold (COGS) for the year?

A company's beginning inventory was $50,000, and its ending inventory was $40,000. During the year, the company made purchases amounting to $200,000. What is the company's cost of goods sold (COGS) for the year?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter7: Inventories: Cost Measurement And Flow Assumptions

Section: Chapter Questions

Problem 1RE: On December 31, Pitts Manufacturing Company reports the following assets: What is the total amount...

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Question

Calculate cost of good sold general accounting question

A company's beginning inventory was $50,000, and its ending
inventory was $40,000. During the year, the company made
purchases amounting to $200,000. What is the company's cost of
goods sold (COGS) for the year?

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