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

---

Definitions:

Human Behavior

The range of actions and mannerisms exhibited by humans in conjunction with their environment, influenced by culture, attitudes, emotions, values, ethics, and genetics.

Organizations

Entities consisting of multiple individuals working together towards a common goal or set of objectives, structured to coordinate their activities and efforts efficiently.

Skill Development

The process of identifying, cultivating, and enhancing abilities for improved performance and personal growth.

Self-Correcting

The ability of an individual or system to recognize and correct its own errors or inefficiencies without external intervention.