At the beginning of january 2017, a company reported inventory of $4,000. during the month, the company made purchases of $17,800. on january 31, 2017, a physical count of inventory reported $4,200 on hand. find the cost of goods sold for the month. a : $17,600 b : $18,000 c : $21,800 d : $17,800

Option A. 17600

Explanation:

Cost Of Goods Sold:                                                                                 $

Opening Inventory at the start of the month ( 1st Jan 2017)           4000

Add:Purchases                                                                                        17800

Less:Closing Inventory at the end of the month ( 31st Jan 2017)    (4200)

Cost of goods sold for the month                                                         17600

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