At the beginning of 2018, Calston Incorporated reports inventory of $10,000. During 2018, the company purchases additional inventory for $27,000. At the end of 2018, the cost of inventory remaining is $7,700.

Calculate cost of goods sold for 2018.

The right side are the input of inventory: it can be from previous prior and purchase from the period. And the left side are the destination, it can be on stock or sold.

We plug our values into the formula and solve for COGS

100,000 + 27,000 = 7,700 + COGS

COGS = 100,000 + 27,000 - 7,700 = 119,300

Аноним Аноним · Answer 2 · 2020-05-19T16:40:54+02:00

Аноним Аноним

19-05-2020

Answer: COGS for 2018 : 119,300

Explanation:

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At the beginning of 2018, Calston Incorporated reports inventory of $10,000. During 2018, the company purchases additional inventory for $27,000. At the end of 2018, the cost of inventory remaining is $7,700. Calculate cost of goods sold for 2018.

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At the beginning of 2018, Calston Incorporated reports inventory of $10,000. During 2018, the company purchases additional inventory for $27,000. At the end of 2018, the cost of inventory remaining is $7,700.

Calculate cost of goods sold for 2018.