Ask Question
21 October, 23:11

Pina Colada Corp. had beginning inventory of $16500 at March 1, 2017. During the month, the company made purchases of $71500. The inventory at the end of the month is $19030. What is cost of goods sold for the month of March

+1
Answers (1)
  1. 22 October, 01:09
    0
    The cost of goods sold is $68970

    Explanation:

    The cost of goods sold is the cost of inventory that a company sells in a partcular period.

    The cost of goods sold can be calculated as,

    Cost of Goods sold = Opening inventory + Purchases - Closing Inventory

    Cost of Goods Sold = 16500 + 71500 - 19030 = $68970
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Pina Colada Corp. had beginning inventory of $16500 at March 1, 2017. During the month, the company made purchases of $71500. The inventory ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers