Assume that Jordan Corporation uses a periodic inventory system. Jordan had beginning and ending inventory of...
Assume that Jordan Corporation uses a periodic inventory system. Jordan had beginning and ending inventory of $25,000 and $30,000, respectively. Cost of Goods Available for Sale is equal to $90,000. Cost of goods sold is
a.$85,000
b.$30,000
c.$60,000
d.$65,000
Homework Answers
Cost of Goods Sold = Beginning inventory + Cost of Goods available for sale - Ending inventory
= 25,000 + 90,000 - 30,000
= 85,000
Option A is the answer
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