Ever glow Furnishings, a local retailer, has provided the following data for the month of September: Item Amount Merchandise Inventory, beginning balance $52,000 Merchandise Inventory, ending balance $49,500 Sales $310,000 Purchases of merchandise inventory $158,000 Selling expense $21,000 Administrative expense $60,000 What was the cost of goods sold (COGS) for September? a) $160,500 b) $155,500 c) $158,000 d) $210,000

Ever glow Furnishings, a local retailer, has provided the following data for the month of September: Item Amount Merchandise Inventory, beginning balance $52,000 Merchandise Inventory, ending balance $49,500 Sales $310,000 Purchases of merchandise inventory $158,000 Selling expense $21,000 Administrative expense $60,000 What was the cost of goods sold (COGS) for September? a) $160,500 b) $155,500 c) $158,000 d) $210,000

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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