a small gift shop has a beginning inventory that is valued at $9,320. if the additional inventory detailed…

a small gift shop has a beginning inventory that is valued at $9,320. if the additional inventory detailed in the box is purchased, and the ending inventory is valued at $1,840 after a certain period, what is the cost of goods sold over this period? additional inventory purchased item cost units total puzzles $15.00 10 $150.00 shirts $18.00 12 $216.00 key chains $5.50 16 $88.00 cost of goods sold = $?

a small gift shop has a beginning inventory that is valued at $9,320. if the additional inventory detailed in the box is purchased, and the ending inventory is valued at $1,840 after a certain period, what is the cost of goods sold over this period? additional inventory purchased item cost units total puzzles $15.00 10 $150.00 shirts $18.00 12 $216.00 key chains $5.50 16 $88.00 cost of goods sold = $?

Answer

Explanation:

Step1: Calculate total additional inventory

$150 + 216+88=$454$

Step2: Use cost - of - goods - sold formula

The formula for cost of goods sold (COGS) is COGS = Beginning Inventory+Additional Inventory - Ending Inventory. Beginning inventory is $9320$, additional inventory is $454$ and ending inventory is $1840$. $9320 + 454-1840$ $=9774 - 1840$ $=$7934$

Answer:

$7934$