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Tuity Fruity Beverage​ Company's operating activities for the year are listed below.Purchases​$140,000Operating expenses$80,900Beginning inventory$12,300Ending inventory$18,300Sales revenue$300,000What is the cost of goods sold for the​ year?

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facundobuzzetti

Answer:

COGS= 12,300 + 140,000 - 18,300= $134,000

Explanation:

Giving the following information:

Purchases $140,000

Operating expenses $80,900

Beginning inventory $12,300

Ending inventory $18,300

Sales revenue $300,000

COGS=Beginning Inventory+Production during period−Ending Inventory

COGS= 12,300 + 140,000 - 18,300= $134,000

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