posted by keri .
acacia company had inventory of 100,000 on December 31, 2012. other information is as follows:
inventory 1/1/2012 300,000
what is the amount of acacia cost of goods sold for 2012?
do you add in the sales for the year?
Cost of goods sold:
Beginning inventory 300,000
purchases $1,500,000. 1,500,000
Cost of goods available for sale = 1,800,000
Less ending inventory. 100,000
Cost of goods sold 1,700,000
You do not needed to add the sale.