Answer:
B. $301,000
Explanation:
The computation of the purchased from suppliers is shown below:
As we know that
Cost of good sold = Opening Inventory + Purchase - Closing Inventory
$300,000 = $29,000 + Purchases - $30,000
Purchases = $300,000 + $30,000 - $29,000
= $301,000
Hence, the purchased from suppliers is $301,000
Therefore the correct option is b.
We simply applied the above formula so that the correct value could come
And, the same is to be considered
