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elena-s [515]
3 years ago
6

Kingbird, Inc. accounting records show the following at the year ending on December 31, 2022.

Business
1 answer:
Sunny_sXe [5.5K]3 years ago
7 0

Answer:

the cost of goods sold under the periodic system is $690,320

Explanation:

The computation of the cost of goods sold under the periodic system is as follows:

Cost of goods sold = Beginning inventory + Purchases - Purchases discount - Purchase return and allowance + Freight in  - Ending inventory

= $41,000 + $705,020 - $11,900 - $13,100 + $16,900 - $47,600

= $690,320

Hence, the cost of goods sold under the periodic system is $690,320

This is the answer but the same is not provided in the given options

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