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Bravo Company had beginning inventory of $75,000, purchased merchandise during the period for $200,000, and had ending inventory of $16,000. How much was cost of goods sold?

Answer :

sqdancefan

Answer:

  $259,000

Step-by-step explanation:

The relationship between inventory values and cost of goods sold is ...

  starting inventory + added inventory - cost of goods sold = ending inventory

Then the cost of goods sold is ...

  starting inventory + added inventory - ending inventory = cost of goods sold

  $75,000 +200,000 -16,000 = cost of goods sold = $259,000

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