1. Jones Company began the year with $100 of merchandise inventory. During the year Jones purchased inventory that cost $200 and also paid $15 of freight costs on the purchased inventory. At the end of the year Jones Company determined that the cost of its ending inventory was $50. Given these facts Jones should report cost of goods sold totaling:
can you let me know who got the answer for the question.
a. $50
b. $200
c. $215
d. $250
e. $265