Problem: At the beginning of September, 2015, Kani Company reported Merchandise Inventory of $4,000. During the month, the company made purchases of $7,800. At September 31, 2015, a physical count of inventory reported $3,200 on hand. Cost of goods sold for the month is a. $600. b. $7,800. c. $8,600. d. $11,800

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Problem Details

At the beginning of September, 2015, Kani Company reported Merchandise Inventory of $4,000. During the month, the company made purchases of $7,800. At September 31, 2015, a physical count of inventory reported $3,200 on hand. Cost of goods sold for the month is

a. $600.

b. $7,800.

c. $8,600.

d. $11,800

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