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
