Solve the problem.For the month ending December 31, MidState Machinery had gross sales of $2,684,000, returns of
, cost of beginning inventory $566,000, cost of purchases $1,279,000, cost of ending inventory
, total operating expenses $141,000. Find the net sales and cost of goods sold.
A. net sales: $2,624,000; cost of goods sold: $1,339,000
B. net sales: $2,624,000; cost of goods sold: $141,000
C. net sales: $2,684,000; cost of goods sold: $1,339,000
D. net sales: $2,624,000; cost of goods sold: $1,279,200
Answer: A
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A.
B.
C.
D.