If the average inventory is 99073.18, the inventory turnover is 10, sales 12 million,purchase of merchandise is 9,600,000 , gross profit is 2.3 million what is cost of goods sold?
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If the average inventory is 99073.18, the inventory turnover is 10, sales 12 million,purchase of merchandise is 9,600,000 , gross profit is 2.3 million what is cost of goods sold?
Cost of goods sold is : 9,700,000
The inventory given in question is for our information purpose. Its not our Opening or Ending inventory.. Please verify your answer by below image uploaded by me !
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http://img232.imageshack.us/img232/9...cument1jr0.gif
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