Question - Viva Inc. has provided the following information for the year:
Cost of Goods Sold $1,261,000
Beginning Balance - Finished Goods Inventory $99,000
Ending Balance - Finished Goods Inventory $85,000
What is the cost of goods sold?
a) $184,000
b) $1,275,000
c) $1,261,000
d) $1,247,000