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blondinia [14]
3 years ago
7

Larkspur Co. had cost of goods sold of $3,100. If beginning inventory was $3,200 and ending inventory was $1.050. Larkspur's pur

chases must have been:___________.
a. $950
b. $1,150
c. $2,150
d. $5.250
Business
1 answer:
AleksandrR [38]3 years ago
5 0

Answer:

cost of goods purchased= $950

Explanation:

Giving the following information:

Larkspur Co. had cost of goods sold of $3,100.

Beginning inventory was $3,200

Ending inventory was $1,050

<u>To calculate the purchases, we need to use the following formula:</u>

COGS= beginning finished inventory + cost of goods purchased - ending finished inventory

3,100 = 3,200 + cost of goods purchased - 1,050

cost of goods purchased= 950

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Answer:

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