Answer to Question #245623 in Financial Math for nik

Question

XYZ Company has Beginning Inventory Php. 100,000, New Purchases

amounting to Php. 450,000 and Ending Inventory is Php. 35,000. Find the cost of

goods sold for XYZ Company.

Answer 1

Cost of Goods Sold = Beginning Inventory + New Purchases - Ending Inventory

= (Php. 100,000 + Php. 450,000) - Php. 35,000 = Php. 515,000

Cost of Goods Sold for XYZ Company = Php. 515,000