MC Qu 59 Daves Duds reported cost of goods sold of Daves Dud

MC Qu. 59 Dave\'s Duds reported cost of goods sold of.. Dave\'s Duds reported cost of goods sold of $1,500,000 this year. The inventory account increased by $300,000 during the year to an ending balance of $505,000. What was the cost of merchandise that Dave\'s purchased during the year?

Solution

Cost of merchandise purchased = 1500000+300000 = 1800000