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Singh 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? a. $140,000. b. $124,000. c. $104,000. d. $130,000. e. $216,000.

Singh 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? a. $140,000. b. $124,000. c. $104,000. d. $130,000. e. $216,000.

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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Singh 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? a. $140,000. b. $124,000. c. $104,000. d. $130,000. e. $216,000.
Transcribed Image Text:Singh 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? a. $140,000. b. $124,000. c. $104,000. d. $130,000. e. $216,000.
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