Post Company began the current month with $10,000 in inventory, then purchased inventory at a cost of $35,000. The inventory at the end of the month was $20,000. The cost of goods sold would be: $30,000 $35,000 $15,000 $25,000

Post Company began the current month with $10,000 in inventory, then purchased inventory at a cost of $35,000. The inventory at the end of the month was $20,000. The cost of goods sold would be: $30,000 $35,000 $15,000 $25,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Post Company began the current month with $10,000 in inventory, then purchased inventory at a cost of $35,000. The inventory at the end of the month was $20,000.

The cost of goods sold would be:

$30,000
$35,000
$15,000
$25,000

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