beg $26000, purchased $24000,$12000 in transfers. in total, you sold$39000 worth of food ending inventory is $29000. what is your cost for the products

Question

Should be 26000+24000+12000

 

Optional answers. 

9000

23000

33000

None of the above

Answer 1

The cost of the products sold= 33,000

 

Beg. balance 26,000+purchased 24,000+Tin transfer 12,000= 62,000

Less ending inventory                                                          29,000

The difference is Cost of goods sold=                                    33,000

Answer 2

 

  "cost for products" ...  those words are not usually found on financial accounting statements .. do you mean Cost of Goods Sold

 

 

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