Kysong, Inc. had beginning inventory of $12300 at March 1, 2022. During the month, the company made purchases of $53300. The inventory at the end of the month is $14190. What is cost of goods sold for the month of March?

Question

Business

Zara Singh

24 May, 13:38

Kysong, Inc. had beginning inventory of $12300 at March 1, 2022. During the month, the company made purchases of $53300. The inventory at the end of the month is $14190. What is cost of goods sold for the month of March?

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Answers (1)

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Silly Gilly · Answer 1

the cost of goods sold for the month of March is $51,410

Explanation:

Cost of Goods sold is the expense incurred directly to provide a sale:

Cost of Goods Sold = Opening Stock + Purchases - Closing Stock

Cost of goods sold for the month of March - Calculation

Opening Stock $12300

Add Purchases $53300

Less Closing Stock ($14190)

cost of goods sold $51,410

Therefore the cost of goods sold for the month of March is $51,410