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Basic Question 12 of 26
The following information is available for Frank Corporation for 2015:
Beginning Inventory: $50,000
Purchases: $160,000
Ending Inventory: $60,000
B. $210,000
C. $150,000
Sales: $250,000
Beginning Inventory: $50,000
Purchases: $160,000
Ending Inventory: $60,000
Frank Corporation's cost of goods sold for 2015 is ______.
A. $160,000
B. $210,000
C. $150,000
User Contributed Comments 3
| User | Comment |
|---|---|
| rainatt | NOTHING ABOUT SALES |
| myanmar | note the master-equation: EI=BI+purch.-COGS |
| johntan1979 | P=C+E-B |
I passed! I did not get a chance to tell you before the exam - but your site was excellent. I will definitely take it next year for Level II.
Tamara Schultz
Learning Outcome Statements
describe the measurement of inventory at the lower of cost and net realisable value and its implications for financial statements and ratios
CFA® 2025 Level I Curriculum, Volume 2, Module 6.