Ask Question
2 September, 19:02

During the year, a company's inventory decreased by $20,000. if the company's cost of goods sold for the year was $400,000, find the amount for purchases.

+1
Answers (1)
  1. 2 September, 19:20
    0
    Purchases for the year = $380,000

    Cost of goods sold = change in inventory + purchases

    Make purchases = x, solve for x

    400,000 = 20,000 + x

    x = 380,000
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “During the year, a company's inventory decreased by $20,000. if the company's cost of goods sold for the year was $400,000, find the amount ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers