Al the beginning of 2018. Calon Incorporated reports inventory of $10,000

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Al the beginning of 2018. Calon Incorporated reports inventory of $10,000

Al the beginning of 2018. Calon Incorporated reports inventory of $10,000. During 2018, the compary purchases additional inventory for $20,000. Al the end of 2018, the cost of invertory remaining is $7,000 Calculate cost of goods sold for 2018.

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Answer 1

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Answer #1

Cost of Goods Sold

= Beginning inventory + Purchases - Ending inventory

= 10,000+20,000-7,800

= 22,200.

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Answer 2

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