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Purchases, $100,000; beginning inventory, $20,000; and ending inventory, $30,000. How much was the cost of goods sold?

Purchases, $100,000; beginning inventory, $20,000; and ending inventory, $30,000. How much was the cost of goods sold?

FINANCIAL ACCOUNTING
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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Purchases, $100,000; beginning inventory, $20,000; and ending inventory, $30,000. How much was the cost of goods sold?
Transcribed Image Text:Purchases, $100,000; beginning inventory, $20,000; and ending inventory, $30,000. How much was the cost of goods sold?
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