a-retail-store-conducts-a-physical-inventory-count-and-finds-60000-worth-of-inve

Question

A retail store conducts a physical inventory count and finds $$60,000 worth of inventory. If the beginning inventory was 50$$,000, purchases were $$30,000, and purchase returns were 5$$,000, what is the cost of goods sold?

Accepted Answer

$15,000

Answer

$25,000

Answer

$45,000

Answer

$35,000

A retail store conducts a physical inventory count and finds \$60,000 worth of inventory. If the beginning inventory was \$50,000, purchases were \$30,000, and purchase returns were \$5,000, what is the cost of goods sold?