Using the Following Information,what Is the Cost of Goods Sold

question 180

Multiple Choice

Using the following information,what is the cost of goods sold?

• A) $32,400
• B) $32,670
• C) $31,330
• D) $38,370

---

Definitions:

Energy-Efficient Furnace

A heating system designed to use less energy for the same level of heating comfort compared to less efficient models.

Exemption

Information included on tax forms that lowers taxes; exemptions include dependents as well as the taxpayer.

Taxable Income

The portion of income used to calculate how much tax an individual or a corporation owes to the government, after all deductions and exemptions.

Taxpayer

An individual or business entity that is obligated to make payments to governmental authorities in the form of taxes.