A company that uses the periodic inventory system provided the following information:
1. Beginning inventory $6,000
2. Purchases $130,000
3. Purchase discounts $2,400
4
Purchase returns and allowances $600
At the end of the period, the company does an inventory count and finds $16,000 worth of inventory on hand. What is the amount of cost of goods sold?
A) $117,000
B) $104,200
C) $149,000
D) $128,800
A .
Business
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