Harmony Enterprises reported the following information for the current year: • Sales: $120,000 • • Beginning inventory: $15,000 Purchases: $70,000 ⚫ Ending inventory: $20,000 Calculate the cost of goods sold for Harmony Enterprises. A) $65,000 B) $85,000 C) $105,000 D) $120,000

Harmony Enterprises reported the following information for the current year: • Sales: $120,000 • • Beginning inventory: $15,000 Purchases: $70,000 ⚫ Ending inventory: $20,000 Calculate the cost of goods sold for Harmony Enterprises. A) $65,000 B) $85,000 C) $105,000 D) $120,000

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

Can you help me with general accounting questions

Harmony Enterprises reported the following information for the current year:
•
Sales: $120,000
•
•
Beginning inventory: $15,000
Purchases: $70,000
⚫ Ending inventory: $20,000
Calculate the cost of goods sold for Harmony Enterprises.
A) $65,000
B) $85,000
C) $105,000
D) $120,000

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