Question

Haack Inc. is a merchandising company. Last month the company's cost of goods sold was $69,200. The company's beginning merchandise inventory was $15,600 and its ending merchandise inventory was $28,800. What was the total amount of the company's merchandise purchases for the month

Answer 1

Answer:

$82,400

Explanation:

Cost of goods sold = beginning merchandise inventory + purchases - ending merchandise inventory.

$69,200 = $15,600 + purchases - $28,800

Purchases = $82,400