Calculate the cost of the products sold

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Reference no: EM131240383

Financial Statements

1. Owner injected $ 850,000 in the Company

2. Paid $ 350,000 to purchase products A to resell to end consumers

3. Paid salaries of $ 282,200 to selling and administrative employees

4. Paid $ 100,000 to purchase furniture for the office

5. Paid $ 65,000 for the rent, electricity and telephone

6. Sold cash 80% of the products A for $ 500,000. Calculate the cost of the products sold.

7. Sold on account the remaining 20% of the products A for $ 150,000. Calculate the cost of the products sold.

Attachment:- Assignment.rar

Reference no: EM131240383

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