The Following Data Pertains to Greenwold Manufacturing

question 1

Multiple Choice

The following data pertains to Greenwold Manufacturing.Total assets at January 1,20X9,were $290,000; at December 31,20X9,total assets were $334,000.During 20X9,sales were $995,000; cash dividends declared were $10,000; and operating expenses (exclusive of cost of goods sold) were $545,000.Total liabilities at December 31,20X9,were $128,000; at January 1,20X9,total liabilities were $105,000.There was no additional paid-in capital during 20X9.What was cost of goods sold for 20X9?

• A)$450,000
• B)$435,000
• C)$429,000
• D)$419,000
• E)$440,000

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