Which of the Following Formulas Represent Cost of Goods Sold

question 12

Multiple Choice

Which of the following formulas represent cost of goods sold for a merchandising business?

• A) Beginning Merchandise Inventory - Ending Merchandise Inventory = Cost of Goods Sold
• B) Purchases and Freight In + Ending Merchandise Inventory = Cost of Goods Sold
• C) Ending Merchandise Inventory + Purchases and Freight In - Beginning Merchandise Inventory = Cost of Goods Sold
• D) Beginning Merchandise Inventory + Purchases and Freight In - Ending Merchandise Inventory = Cost of Goods Sold

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Definitions:

Automobiles

Motor vehicles with four wheels designed primarily for passenger transportation on public roads.

Caveat Emptor

Latin: “Let the buyer beware.”

Consumer Protection Legislation

Laws and regulations designed to safeguard the rights and interests of consumers against unfair practices by businesses.

Modern Changes

Contemporary alterations or developments in any field, particularly those that represent a significant shift from traditional methods or beliefs.