Question

What would the cost of goods sold be if the cost of goods available for sale totaled $650.00 and the ending inventory totaled $86.00?

A. 546.00
b.$564.00
c. 5.46
d. 50.64

Answer 1

$564.00

Explanation:

$650.00 - $86.00 = $564.00

COGS: cost of goods available for sale - cost of ending inventory

Answer 2

Answer: Option 'b' is correct.

Explanation:

Since we have given that

Cost of goods available for sale = $650.00

Amount of inventory = $86.00

So, Total cost of goods sold becomes

Cost of goods available for sale - Amount of inventory

`\$650-\$86\\\\=\$564.00`

Hence, Option 'b' is correct.