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At the beginning of January 2022, a company reported inventory of $4,000. During the month, the company made purchases at a total net cost of $17,800. On January 31, 2022, a physical count of inventory reported $4,200 on hand. Find the cost of goods sold for the month.A. $17,600
B. $18,000
C. $17,800
D. $21,800

Respuesta :

Samawati

Answer:

.A. $17,600

Explanation:

The cost of goods sold refers to the costs incurred in producing products sold by a business. The formula for calculating the cost of goods sold (COGS) is as follows

COGS=Beginning Inventory+Purchases −Ending Inventory.

In this case:

Beginning inventory is $4,000

Ending inventory is $ $4,200

purchases :  $17,800

Therefore:

COGS = $4,000+ $17,800 -$4,200

COGS =$17,600

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