Crystal Jewelry Company has the following information: . Sales = $75,000 Beginning Inventory = $8,000 ⚫ Purchases = $42,000 ⚫ Ending Inventory = $12,000 What is the cost of goods sold? A) $38,000 B) $63,000 C) $75,000 D) $50,000

Crystal Jewelry Company has the following information: . Sales = $75,000 Beginning Inventory = $8,000 ⚫ Purchases = $42,000 ⚫ Ending Inventory = $12,000 What is the cost of goods sold? A) $38,000 B) $63,000 C) $75,000 D) $50,000

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

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...

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Question

Financial accounting question

Crystal Jewelry Company has the following information:
.
Sales = $75,000
Beginning Inventory = $8,000
⚫ Purchases = $42,000
⚫ Ending Inventory = $12,000
What is the cost of goods sold?
A) $38,000
B) $63,000
C) $75,000
D) $50,000

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