Question

During last month, your beginning inventory was $17,500, your purchases were $19,252, and your ending inventory was $15,757. What was the cost of goods sold GOGS?​

Answer 1

$20,995

Cost of goods sold:

17,500 Beginning inventory

+19,252 Plus purchased inventory

- $15,757 Minus ending inventory

=20,995 Cost of Goods Sold