Question

Juice Drinks has beginning inventory of $10,000, purchases in the amount of $150,000, and ending inventory of $8,000. Juice Drinks cost of goods sold is $ ____________.

Answer 1

Answer:

$152,000

Explanation:

Given the data as shown below;

Opening inventory = $10,000

Purchases = $150,000

Ending inventory = $8,000

Therefore,

Juice drinks cost of goods sold = Opening inventory + Purchases - Ending inventory

= $10,000 + $150,000 - $8,000

= $152,000