a-company-has-a-beginning-inventory-of-12000-purchases-of-20000-purchase-discoun

Question

A company has a beginning inventory of $$12,000, purchases of 20$$,000, purchase discounts of $$1,000, and an ending inventory of 10$$,000. Set up the equation to solve for COGS.

Accepted Answer

COGS = $$12,000 + 20$$,000 - $$1,000 - 10$$,000

Answer

COGS = $$12,000 - 20$$,000 + $$1,000 + 10$$,000

Answer

COGS = $$12,000 + 20$$,000 - $$1,000 + 10$$,000

Answer

COGS = $$12,000 + 20$$,000 + $$1,000 - 10$$,000

A company has a beginning inventory of \$12,000, purchases of \$20,000, purchase discounts of \$1,000, and an ending inventory of \$10,000. Set up the equation to solve for COGS.