Given the Following Data, What Is Cost of Goods Sold

question 56

Multiple Choice

Given the following data, what is cost of goods sold? $\begin{array} { | l | r | } \hline \text { Sales revenue } & \$ 950,000 \\\hline \text { Beginning inventory } & 150,000 \\\hline \text { Ending inventory } & 230,000 \\\hline \text { Purchases } & 720,000 \\\hline\end{array}$

• A)$870,000
• B)$640,000
• C)$570,000
• D)$510,000

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