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The following information has been taken from ABC Company for the year 2019 Sales revenues 3600,000 - Opening inventory of finished goods 60,000 Closing inventory of finished goods 40,000 Purchases 200.000 Trade discount received 10,000 Trade discount allowed 12,000-Purchases returns 4,000 Sales returns 15,500. Cost of goods sold for the year ended December 31, 2019, is Multiple Choice $334,000 $128.000 $206,000 $186.000

The following information has been taken from ABC Company for the year 2019 Sales revenues 3600,000 - Opening inventory of finished goods 60,000 Closing inventory of finished goods 40,000 Purchases 200.000 Trade discount received 10,000 Trade discount allowed 12,000-Purchases returns 4,000 Sales returns 15,500. Cost of goods sold for the year ended December 31, 2019, is Multiple Choice $334,000 $128.000 $206,000 $186.000

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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The following information has been taken from ABC Company for the year 2019 Sales revenues 3600,000 - Opening inventory of finished goods 60,000 Closing inventory of finished goods 40,000 Purchases 200.000 Trade discount received 10,000 Trade discount allowed 12,000-Purchases returns 4,000 Sales returns 15,500. Cost of goods sold for the year ended December 31, 2019, is: Multiple Choice O $334,000 $18,000 $206,000 $186.000
Transcribed Image Text:The following information has been taken from ABC Company for the year 2019 Sales revenues 3600,000 - Opening inventory of finished goods 60,000 Closing inventory of finished goods 40,000 Purchases 200.000 Trade discount received 10,000 Trade discount allowed 12,000-Purchases returns 4,000 Sales returns 15,500. Cost of goods sold for the year ended December 31, 2019, is: Multiple Choice O $334,000 $18,000 $206,000 $186.000
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