Al the beginning of the year, Bryers Incorporated reports inventory of $7,800
Al the beginning of the year, Bryers Incorporated reports inventory of $7,800. During the year, the company purchases additional inventory for $22,800. Al the end of the year, the cost of inventory remaining is $9,800. Calculate cost of goods sold for the year.
Homework Answers
| Cost of Goods sold is calculated as follows: | |
| Beginning Inventory | 7,800 |
| Add: Purchases during the year | 22,800 |
| Cost of goods available | 30,600 |
| Less: Cost of Ending Inventory | 9,800 |
| Cost of Goods sold | 20,800 |
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