Solved: During the year 1200 items were sold for 80 each but 50, Accounting Basics

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During the year 1200 items were sold for 80 each but 50

Question - In July 2012, Orange Pty Ltd had 100 items of inventory which had cost $50 each. During the year ended 30 June 2013, it purchased 1500 items at a cost of $50 each. Of these, 200 were returned to the supplier as they were damaged. During the year, 1200 items were sold for $80 each, but 50 were returned by customers. What was COGS for the year?

a. $47,500

b. $57,500

c. $60,000

d. $62,500

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Accounting Basics: During the year 1200 items were sold for 80 each but 50

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Accounting Basics: During the year 1200 items were sold for 80 each but 50

Reference No:- TGS02384714

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