Solution-What was cost of goods sold

What was cost of goods sold

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Question - X Company is a merchandiser. It incurred the following costs in 2019:

Utility costs $29,431

Warehouse costs 20,270

Advertising costs 11,876

Employee salaries 16,000

Insurance costs 25,459

Merchandise purchases 88,656

Equipment rental 19,280

Supply costs 14,905

Miscellaneous operating costs 16,323

The Merchandise Inventory account had a January 1 balance of $47,435 and a December 31 balance of $11,595. What was Cost of Goods Sold in 2019?

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What was cost of goods sold

Reference no: EM132687009

Reference no: EM132687009

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