We appreciate your visit to Cedar Co updates its inventory periodically The company s beginning inventory was 4 860 and purchases were 10 080 during the year The company s. This page offers clear insights and highlights the essential aspects of the topic. Our goal is to provide a helpful and engaging learning experience. Explore the content and find the answers you need!
Answer :
Final answer:
The cost of goods sold for Cedar Co. is calculated using the beginning inventory, purchases, and the ending inventory. After performing the calculations, the COGS is found to be $5,940.
Explanation:
To calculate the cost of goods sold (COGS) for Cedar Co., we use the following formula:
COGS = Beginning Inventory + Purchases - Ending Inventory
Given the company's beginning inventory of $4,860 and purchases of $10,080 during the year, and considering the ending inventory is $9,000, we can calculate the COGS as follows:
- COGS = $4,860 + $10,080 - $9,000
- COGS = $14,940 - $9,000
- COGS = $5,940
Therefore, the correct answer is a. $5,940.
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