Answer:
$47,500
Explanation:
Given that,
Ending inventory = $5,500
Website maintenance = $7,200
Revenues = $65,000
Freight-in = $3,200
Import duties = $1,600
Marketing expenses = $14,000
Delivery expenses = $1,400
Purchases = $44,000
Beginning inventory = $4,200
Cost of goods available for sale:
= Beginning inventory + Purchases + Freight-in + Import duties
= $4,200 + $44,000 + $3,200 + $1,600
= $53,000
Cost of goods sold:
= Cost of goods available for sale - Ending inventory
= $53,000 - $5,500
= $47,500
