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Use the following data to calculate the cost of merchandise sold:
Sales: $80,000
Beginning inventory: $5,000
Purchase: $21,800
Purchase discounts: $790
Ending inventory: $5,100

A. $21,650
B. $20,190
C. $21,560
D. $20,910

Respuesta :

itswhatevaig
 Beg Inv + Purchases - Discounts - COGS = End Inv, 
or 5,000 + 21,800 - 790 - 5,100 = COGS of 20,910
cecylya

Answer:

Cost of merchandise sold is $20,910

Step-by-step explanation:

To get the cost of merchandising we use the following data:

Beginning inventory: $5,000

Purchase: $21,800

Purchase discounts: $790

Ending inventory: $5,100

Sales are not included when we calculate the cost.  

Cost =Beginning inventory+Purchase-discounts-Ending inventory=

Cost=$5,000 +$21,800 -$790-$5,100=$20,910

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