Tuity Fruity Beverage Company's operating activities for the year are listed below. Purchases $140,000Operating expenses$80,900Beginning inventory$12,300Ending inventory$18,300Sales revenue$300,000What is the cost of goods sold for the year?

COGS = 12,300 + 140,000 - 18,300 = $134,000

Explanation:

Giving the following information:

Purchases $140,000

Operating expenses $80,900

Beginning inventory $12,300

Ending inventory $18,300

Sales revenue $300,000

COGS=Beginning Inventory+Production during period-Ending Inventory

COGS = 12,300 + 140,000 - 18,300 = $134,000