Larkspur Co. had cost of goods sold of $2,500. If beginning inventory was $2,600 and ending...
Larkspur Co. had cost of goods sold of $2,500. If beginning inventory was $2,600 and ending inventory was $750, Larkspur's purchases must have been:
Multiple Choice
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$650.
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$850.
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$1,850.
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$4,350.
Homework Answers
$650.
| Purchase is calculated as follows: | |||
| Cost of goods sold | $ 2,500 | ||
| Add ending inventory | $ 750 | ||
| Less beginning inventory | $ 2,600 | ||
| Purchase | $ 650 | ||
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