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Waco Company's Cost of Goods Sold for 2014 was $302,000. Which of the following statements is true?
Waco Company's Cost of Goods Sold for 2014 was $302,000. Which of the following statements is true?
Select one:
a. If the ending balance in Merchandise Inventory for 2014 was $100,000, the Cost of Goods Available for Sale was $402,000.
b. If the beginning balance in Merchandise Inventory for 2014 was $50,000, the Cost of Goods Available for Sale was $352,000.
c. If the ending balance in Merchandise Inventory for 2014 was $100,000, the Cost of Goods Available for Sale was $202,000.
d. If the beginning balance in Merchandise Inventory for 2014 was $50,000, the Cost of Goods Available for Sale was $252,000.
Answer: A. If the ending balance in merchandise inventory for 2014 was $100000, the cost of goods available for sale was $402000.Cost of goods available for sale 402000 Less merchandise inventory...