A Company Has a Beginning Inventory of $40,000 and Purchases

question 60

Multiple Choice

A company has a beginning inventory of $40,000 and purchases during the year of $110,000.The beginning inventory consisted of 3,000 units and 7,000 units were purchased during the year.The company has 4,000 units left at year-end.Under average-cost,what is Cost of Goods Sold?

• A)$60,000
• B)$90,000
• C)$110,000
• D)$150,000

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