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Using the data below, calculate the cost of goods sold. Beginning inventory - $1,000 Inventory purchased - $3,000 Net income - $40,000 Ending inventory - $2,000 Sales - $185,000…

Using the data below, calculate the cost of goods sold. Beginning inventory - $1,000 Inventory purchased - $3,000 Net income - $40,000 Ending inventory - $2,000 Sales - $185,000…
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Using the data below, calculate the cost of goods sold.

Beginning inventory - $1,000
Inventory purchased - $3,000
Net income - $40,000
Ending inventory - $2,000
Sales - $185,000

a. $2,000
b. $4,000
c. $145,000
d. $185,000

User JakesMD
by
8.6k points

1 Answer

8 votes
The cost of goods sold is $2,000
User Kamil Svoboda
by
8.4k points
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