A small gift shop has a beginning inventory at $9,120. If the additional inventory detailed in the box is purchased, and the ending inventory is valued at $1,940 after a certain period, what is the cost of goods sold over this period? Additional Inventory Purchased Item Cost Units Total puzzles $15.00 10 $150.00 shirts $18.00 12 $216.00 key chains $5.50 16 $88.00 Cost of Goods Sold = [?] %3D Round to the nearest hundredth.

A small gift shop has a beginning inventory at $9,120. If the additional inventory detailed in the box is purchased, and the ending inventory is valued at $1,940 after a certain period, what is the cost of goods sold over this period? Additional Inventory Purchased Item Cost Units Total puzzles $15.00 10 $150.00 shirts $18.00 12 $216.00 key chains $5.50 16 $88.00 Cost of Goods Sold = [?] %3D Round to the nearest hundredth.

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter14: Adjustments For A Merchandising Business

Section: Chapter Questions

Problem 3CE: Information relating to inventory for Janie Par Gifts is provided below. Beginning merchandise...

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