Do fast answer of this accounting questions Lisa's Lifestyle Store reported a cost of goods sold of $3,200,000 this year.The inventory account increased by $180,000 during the year to an endingbalance of $620,000. What was the cost of merchandise that Lisa purchasedduring the year?A. $2,760,000B. $3,020,000C. $3,380,000D. $3,640,000

Step 1: Definition of Cost of Merchandise PurchasedThe cost of merchandise purchased refers to the…

Answered: Lisa's Lifestyle Store reported a cost…

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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Lisa's Lifestyle Store reported a cost of goods sold of $3,200,000 this year. The inventory account increased by $180,000 during the year to an ending balance of $620,000. What was the cost of merchandise that Lisa purchased during the year? A. $2,760,000 B. $3,020,000 C. $3,380,000 D. $3,640,000