객관식
A cost that contains both variable and fixed cost elements is called a(n):
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4. Merchandising Operations
Cost of Goods Sold - Perpetual Inventory vs. Periodic Inventory
객관식
Under the periodic inventory system, beginning inventory plus net purchases minus ending inventory equals which of the following?
A
Net purchases
B
Cost of goods available for sale
C
Cost of goods sold
D
Gross profit
검증된 단계별 안내1
Step 1: Understand the components involved in the periodic inventory system. The key elements are Beginning Inventory, Net Purchases, Ending Inventory, and Cost of Goods Sold (COGS).
Step 2: Recall the formula for Cost of Goods Available for Sale, which is: \[\text{Cost of Goods Available for Sale} = \text{Beginning Inventory} + \text{Net Purchases}\]
Step 3: Recognize that Cost of Goods Sold (COGS) is calculated by subtracting Ending Inventory from Cost of Goods Available for Sale: \[\text{COGS} = \text{Cost of Goods Available for Sale} - \text{Ending Inventory}\]
Step 4: Substitute the expression for Cost of Goods Available for Sale into the COGS formula: \[\text{COGS} = (\text{Beginning Inventory} + \text{Net Purchases}) - \text{Ending Inventory}\]
Step 5: Conclude that the expression Beginning Inventory plus Net Purchases minus Ending Inventory equals Cost of Goods Sold, which represents the cost of inventory sold during the period.
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