If Beginning Inventory is 100, Purchases are 200, Ending Inventory is 150, what is COGS?

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Study for the ACFE Accounting Terms Test with interactive quizzes. Prepare with multiple choice questions, each question accompanied by explanations and hints. Ensure your success with our study materials!

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If Beginning Inventory is 100, Purchases are 200, Ending Inventory is 150, what is COGS?

COGS is found by starting with Beginning Inventory, adding Purchases, and subtracting Ending Inventory. Here, 100 + 200 = 300 available for sale. Ending Inventory is 150, so the cost of goods sold is 300 − 150 = 150. The result is 150.

If Beginning Inventory is 100, Purchases are 200, Ending Inventory is 150, what is COGS?

Study for the ACFE Accounting Terms Test with interactive quizzes. Prepare with multiple choice questions, each question accompanied by explanations and hints. Ensure your success with our study materials!

If Beginning Inventory is 100, Purchases are 200, Ending Inventory is 150, what is COGS?

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