Question

Assuming that net purchases cost R250 000 during the year. The closing inventory was of R4 000, and opening inventory was of R30 000, how much was the cost of goods sold? Select one: a. R280 000 b. R246 000 c. R276 000 d. R254 000

Name: assuming that net purchases cost r250 000 during the year the closing inventory was of r4 000 and opening inventory was of r30 000 how much was the cost of goods sold select one a r280 000 b 60223
Uploaded: 2022-06-21T08:35:35-08:00
Duration: 1 min 8 s
Channel: Aya Bianca Into
Description: assuming that net purchases cost r250 000 during the year the closing inventory was of r4 000 and opening inventory was of r30 000 how much was the cost of goods sold select one a r280 000 b 60223

          Assuming that net purchases cost R250 000 during the year. The closing inventory was of R4 000, and opening inventory was of R30 000, how much was the cost of goods sold?
Select one:
a. R280 000
b. R246 000
c. R276 000
d. R254 000

Added by Latasha C.

Horngren’s Cost Accounting

Srikant M. Datar, Madhav V. Rajan 16th Edition

Instant Answer

Solved by Expert Aya Bianca Into

06/21/2022

Step 1

The cost of goods sold (COGS) can be calculated using the formula: COGS = Opening Inventory + Net Purchases - Closing Inventory Show more…

Show all steps

Thanks for your feedback!

Assuming that net purchases cost R250 000 during the year. The closing inventory was of R4 000, and opening inventory was of R30 000, how much was the cost of goods sold? Select one: a. R280 000 b. R246 000 c. R276 000 d. R254 000