To Determine the Cost of Goods Sold to Report on the Income

question 128

Multiple Choice

To determine the Cost of Goods Sold to report on the income statement,we take:

• A)the number of units of inventory sold times the retail price per unit.
• B)the number of units of inventory sold times the cost per unit.
• C)the number of units of inventory purchased times the retail price per unit.
• D)the number of units of inventory purchased times the cost per unit.

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