Zenith Corporation has sales of $95,000, beginning inventory of $18,000, purchases of $56,000, and ending inventory of $15,000. The cost of goods sold is: A. $74,000 B. $59,000 C. $33,000 D. $41,000

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...
icon
Related questions
Question

How to find the cost of goods sold please answer

Zenith Corporation has sales of $95,000,
beginning inventory of $18,000, purchases of
$56,000, and ending inventory of $15,000. The cost
of goods sold is:
A. $74,000
B. $59,000
C. $33,000
D. $41,000
Transcribed Image Text:Zenith Corporation has sales of $95,000, beginning inventory of $18,000, purchases of $56,000, and ending inventory of $15,000. The cost of goods sold is: A. $74,000 B. $59,000 C. $33,000 D. $41,000
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning