a small gift shop has a beginning inventory that is valued at $9,120. if the additional inventory detailed…

a small gift shop has a beginning inventory that is valued at $9,120. if the additional inventory detailed in the box is purchased, and the ending inventory is valued at $1,940 after a certain period, what is the cost of goods sold over this period?\n\nadditional inventory purchased\n| item | cost | units | total |\n|--|--|--|--|\n| puzzles | $15.00 | 10 | $150.00 |\n| shirts | $18.00 | 12 | $216.00 |\n| key chains | $5.50 | 16 | $88.00 |\n\ncost of goods sold = $?

a small gift shop has a beginning inventory that is valued at $9,120. if the additional inventory detailed in the box is purchased, and the ending inventory is valued at $1,940 after a certain period, what is the cost of goods sold over this period?\n\nadditional inventory purchased\n| item | cost | units | total |\n|--|--|--|--|\n| puzzles | $15.00 | 10 | $150.00 |\n| shirts | $18.00 | 12 | $216.00 |\n| key chains | $5.50 | 16 | $88.00 |\n\ncost of goods sold = $?

Answer

Explanation:

Step1: Calculate total additional inventory

$150 + 216+88=454$

Step2: Use cost - of - goods - sold formula

Cost of Goods Sold = Beginning Inventory + Additional Inventory - Ending Inventory. So, $9120+454 - 1940$ $9120+454=9574$ $9574-1940 = 7634$

Answer:

$7634$