Question

The following information is available for Houser Produce Market: Sales $225,000 Freight-in $11,000 Ending merchandise inventory 27,000 Purchase returns and allowances 4,000 Sales discounts 3,000 Depreciation expense 8,000 Purchases 143,000 Beginning merchandise inventory 23,000 How much is Houser's cost of goods sold? $173,000 $146,000 $143,000 None of these answer choices are correct.

Answer 1

Ans 1 Particulars Beginning Merchandise inventory Add: Purchase Add: Freight In Less: Purchase Return and Allownaces Less: Ending Merchandise Inventory Cost of Good sold Amount $23,000 $143,000 $11,000 $4,000 $27,000 $146,000 correct option is $146,000