a small gift shop has a beginning inventory that is valued at $8,320. if the additional inventory detailed…

a small gift shop has a beginning inventory that is valued at $8,320. if the additional inventory detailed in the box is purchased, and the ending inventory is valued at $1,720 after a certain period, what is the cost of goods sold over this period?\n\n|additional inventory purchased|\n|----|----|----|----|\n|item|cost|units|total|\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 $8,320. if the additional inventory detailed in the box is purchased, and the ending inventory is valued at $1,720 after a certain period, what is the cost of goods sold over this period?\n\n|additional inventory purchased|\n|----|----|----|----|\n|item|cost|units|total|\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

Answer:

$8784$

Explanation:

Step1: Calculate total additional inventory

$150 + 216+88=454$

Step2: Calculate cost of goods sold

$8320 + 454-1720=8784$