Below Is an Extract from an Income Statement The Cost of Sales Is:
A) $29 500

question 4

Multiple Choice

Below is an extract from an income statement.
$$\begin{array} { l r } &\$ \\\text { Beginning inventory } & 28000 \\\text { Gross sales } & 36000 \\\text { Freight-in } & 2500 \\\text { Sales returns } & 4000 \\\text { Ending inventory } & 25200 \\\text { Purchases } & 31600\end{array}$$
The cost of sales is:

• A) $29 500.
• B) $32 000.
• C) $34 400.
• D) $36 900.

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