Provide correct option of this general accounting question BrightMart Inc., a local retailer, has provided the following data for themonth of April:ItemAmount ($)Merchandise inventory, beginning balance $52,400Merchandise inventory, ending balance$48,700Sales$310,000Purchases of merchandise inventory$159,300Selling expense$22,100$60,200Administrative expenseThe cost of goods sold (COGS) for April wasa. $163,000b. $155,600c. $162,500d. $210,400

Step 1: Define Cost of Goods Sold (COGS)Cost of Goods Sold (COGS) refers to the direct costs…

Answered: BrightMart Inc., a local retailer, has…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter6: Merchandising Transactions

Section: Chapter Questions

Problem 4EA: The following is selected information from Mars Corp. Compute net purchases, and cost of goods sold...

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