What is the cost of goods sold for the year?
Oaktree, Inc. is a merchandiser of inlaid wooden boxes. The company sold 7000 units during the
year. The company has provided the following information:
A) $362,000
B) $320,000
C) $318,000
D) $305,000
B) $320,000
Cost of goods sold = Beginning Merchandise Inventory + Purchases + Freight In - Ending
Merchandise Inventory = $43,000 + $304,000 + $15,000 - $42,000 = $320,000
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