During last month, you are given the following data for XY Retail Store: The available for sales $200,000 Ending inventory 25% of Cost of Goods Sold Find the cost of goods sold for the last month. a. $150,000 b. $160,000 c. $180,000 d. $200,000

During last month, you are given the following data for XY Retail Store: The available for sales $200,000 Ending inventory 25% of Cost of Goods Sold Find the cost of goods sold for the last month. a. $150,000 b. $160,000 c. $180,000 d. $200,000

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 6EB: Langstons purchased $3,100 of merchandise during the month, and its monthly income statement shows a...

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Question

Please explain the solution to this general accounting problem with accurate principles.

During last month, you are given the following data for
XY Retail Store:
The available for sales $200,000
Ending inventory
25% of Cost of Goods Sold
Find the cost of goods sold for the last month.
a. $150,000
b. $160,000
c. $180,000
d. $200,000

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