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Tee Corporation had beginning inventory of $16,000 and ending inventory of $24,000. Its net sales were...

Question

Tee Corporation had beginning inventory of $16,000 and ending inventory of $24,000. Its net sales were...

Tee Corporation had beginning inventory of $16,000 and ending inventory of $24,000. Its net sales were $155,000 and net purch

Tee Corporation had beginning inventory of $16,000 and ending inventory of $24,000. Its net sales were $155,000 and net purchases were $89,000. Tee's cost of goods sold for the period is O A. $81,000. O B. $97,000. O C. $58,000. OD. $50,000.

Answers

Cost of goods sold=Beginning inventory+Purchases-Ending inventory

=16000+89000-24000

which is equal to

=$81000


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