Question: 5-13 Sinh Corporation has the following information on operating activities for 2014. The Corporation sold light box toys and sold 10,000 units in 2014: Purchases $126,000 Selling and administrative expenses 90,000 Merchandise inventory 01/01/14 14,000 Merchandise inventory 12/31/14 10,000 Sales revenue 250,000 What is the amount of cost of goods sold?
Question: 5-13 Sinh Corporation has the following information on operating activities for 2014. The Corporation sold light box toys and sold 10,000 units in 2014: Purchases $126,000 Selling and administrative expenses 90,000 Merchandise inventory 01/01/14 14,000 Merchandise inventory 12/31/14 10,000 Sales revenue 250,000 What is the amount of cost of goods sold?
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter6: Cost Of Goods Sold And Inventory
Section: Chapter Questions
Problem 33BE
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Transcribed Image Text:Question: 5-13
Sinh Corporation has the following information on operating activities for 2014. The
Corporation sold light box toys and sold 10,000 units in 2014:
Purchases
$126,000
Selling and administrative expenses 90,000
Merchandise inventory 01/01/14
14,000
Merchandise inventory 12/31/14
10,000
Sales revenue
250,000
What is the amount of cost of goods sold?
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