Please give me answer with accounting question Oakwood Supplies reported a Cost of Goods Sold (COGS) of $3,200,000 thisyear. The inventory account increased by $180,000 during the year from abeginning balance of $520,000. What was the cost of merchandise purchasedduring the year?a) $3,020,000b) $3,380,000c) $2,840,000d) $3,560,000

Step 1: Definition of Cost of Merchandise PurchasedCost of Merchandise Purchased refers to the total…

Answered: Oakwood Supplies reported a Cost of…

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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Langstons purchased $3,100 of merchandise during the month, and its monthly income statement shows a cost of goods sold of $3,000. What was the beginning inventory if the ending inventory was $1,250?
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Oakwood Supplies reported a Cost of Goods Sold (COGS) of $3,200,000 this year. The inventory account increased by $180,000 during the year from a beginning balance of $520,000. What was the cost of merchandise purchased during the year? a) $3,020,000 b) $3,380,000 c) $2,840,000 d) $3,560,000