Cost of Goods Sold

RosieJ74 Posts: 33, Reputation: 2

Junior Member

Apr 15, 2008, 08:54 PM

Cost of Goods Sold

Find the 1999's Cost of Goods Sold from the following Info:
Purchases $530k
Purchase Discounts $10k
Beginning Inventory $160k
Ending Inventory $215k
Freight-out $40k

A. $465,000
B. $475,000
C. $505,000
D. $585,000
I know it is NOT C

I redid the problem and got A

this is how 160k + 530k - 10k - 215k = 465k

am I correct

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