Question

Taylor Co. had beginning inventory of $400 and ending inventory of $600. Taylor Co. had cost of goods sold amounting to $1,800. What is the amount of inventory that was purchased during the period? Multiple Choice $1,600 $2,800 $2,000 $2,400

Answer 1

$2,000

Step-by-step explanation:

Data provided as per the question is below

Cost of goods sold = $1,800

Beginning inventory = $400

Ending inventory = $600

The computation amount of inventory is shown below:-

Cost of goods sold = Beginning inventory + Amount of inventory - Ending inventory

$1,800 = $400 + Amount of inventory - $600

= $1,800 + 200

= $2,000