A small gift shop has a beginning inventory at $9,120. If the additional inventory detailed in the box is purchased, and the ending inventory is valued at $1,940 after a certain period, what is the cost of goods sold over this period? Additional Inventory Purchased Item Cost Units Total puzzles $15.00 10 $150.00 shirts $18.00 12 $216.00 key chains $5.50 16 $88.00 Cost of Goods Sold = [?] %3D Round to the nearest hundredth.

A small gift shop has a beginning inventory at $9,120. If the additional inventory detailed in the box is purchased, and the ending inventory is valued at $1,940 after a certain period, what is the cost of goods sold over this period? Additional Inventory Purchased Item Cost Units Total puzzles $15.00 10 $150.00 shirts $18.00 12 $216.00 key chains $5.50 16 $88.00 Cost of Goods Sold = [?] %3D Round to the nearest hundredth.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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