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22 January, 05:11

If beginning inventory is $60,000, cost of goods purchased is $380,000, and ending inventory is $50,000, cost of goods sold is $390,000. $370,000. $330,000. $420,000.

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  1. 22 January, 08:47
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    390,000

    Explanation:

    The cost of goods sold is the expense incurred in producing goods to be sold in a period. It is abbreviated as COGS.

    The cost of goods sold is calculated using the formula

    COGS = opening stock + purchase / cost of goods manufactured - ending stock

    In this case:

    Beginning stock = $60,000

    Ending stock = $50,000

    Cost of goods manufactured $380,000

    COGS = $60,000 + $380,000 - $50,000

    COGS = $390,000
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