If Beginning Inventory Is $6,000,ending Inventory Is $3,000,net Purchases Are

question 3

Multiple Choice

If beginning inventory is $6,000,ending inventory is $3,000,net purchases are $12,000 and Freight-in is $400,what is the Cost of Goods Sold?

• A)$17,400
• B)$17,000
• C)$15,400
• D)$14,000

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Definitions:

Missouri

A state located in the Midwestern United States, known for its diverse geography ranging from the Ozark Mountains to the Mississippi River plains.

Chrysler Building

An iconic art deco skyscraper in New York City, notable for its terraced crown and stainless steel spire, once the world's tallest building upon its completion in 1930.

Art Deco

Descended from Art Nouveau, this movement of the 1920s and 1930s sought to upgrade industrial design as a “fine art” and to work new materials into decorative patterns that could be either machined or handcrafted. Characterized by streamlined, elongated, and symmetrical design.

William Van Alen

An American architect best known for designing the Chrysler Building in New York City, a classic example of Art Deco architecture.