A small gift shop has a beginning inventory that is valued 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
A small gift shop has a beginning inventory that is valued 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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![A small gift shop has a beginning inventory that is valued
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.
Enter
22 International Academy of Science. All Rights Reserved.
%23](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F657b0f2c-505d-4f01-9591-bc88ec786b35%2F73471b37-315f-447d-983a-c3a8b452563a%2Fgcq0t4t_processed.jpeg&w=3840&q=75)
Transcribed Image Text:A small gift shop has a beginning inventory that is valued
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.
Enter
22 International Academy of Science. All Rights Reserved.
%23
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