The following information relate to ABC company:
Purchases
Shs. 130,000
Selling and Administrative Expenses
30,000
Merchandise inventory, 1/1/2020
20,000
Merchandise inventory, 12/31/2020
25,000
Sales Revenue
200,000
What is the cost of goods sold for 2020?
Select one:
A. Shs.150,000
B. Shs. 130,000
C. Shs.175,000
D. The following information relate to ABC company:
Purchases
Shs. 130,000
Selling and Administrative Expenses
30,000
Merchandise inventory, 1/1/2020
20,000
Merchandise inventory, 12/31/2020
25,000
Sales Revenue
200,000
cost of goods sold for 2020?