Problem

Consider the following information: ending inventory $24,000; sales $250,000; beginning in...

Consider the following information: ending inventory $24,000; sales $250,000; beginning inventory $20,000; selling and administrative expenses $70,000; and purchases $90,000. What is cost of goods sold?

a. $86,000

b. $94,000

c. $16,000

d. $84,000

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