Using the following information, determine the cost of merchandise sold. Purchases $30,544 Selling expenses $997 Merchandise inventory, September 1 7,780 Merchandise inventory, September 30 10,604 Administrative expenses 1,027 Sales 47,392 Rent revenue 705 Interest expense 1,022 Oa. $38,324 Ob. $27,720 Oc. $7,780 Od. $48,928

Using the following information, determine the cost of merchandise sold. Purchases $30,544 Selling expenses $997 Merchandise inventory, September 1 7,780 Merchandise inventory, September 30 10,604 Administrative expenses 1,027 Sales 47,392 Rent revenue 705 Interest expense 1,022 Oa. $38,324 Ob. $27,720 Oc. $7,780 Od. $48,928

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter6: Cost Of Goods Sold And Inventory

Section: Chapter Questions

Problem 7MCQ

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