Tuity Fruity Beverage Company's operating activities for the year are listed below. Purchases $140 comma 700 Operating expenses 80 comma 400 Beginning inventory 12 comma 600 Ending inventory 19 comma 000 Sales revenue 300 comma 300 What is the cost of goods sold for the year?

Question

Business

Bridgette

11 June, 03:07

Tuity Fruity Beverage Company's operating activities for the year are listed below. Purchases $140 comma 700 Operating expenses 80 comma 400 Beginning inventory 12 comma 600 Ending inventory 19 comma 000 Sales revenue 300 comma 300 What is the cost of goods sold for the year?

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Answers (1)

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Gilberto · Answer 1

The cost of goods sold for the year is $134,300

Explanation:

The cost of goods sold for the year = Beginning inventory + Merchandise Purchased - Ending inventory

Tuity Fruity Beverage Company's purchases $140 comma 700 and has beginning inventory 12 comma 600, ending inventory 19 comma 000.

Therefore:

The cost of goods sold for the year = $12,600 + $140,700 - $19,000 = $134,300