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Question

Bits & Bytes, Inc., started the month with an inventory of computer hardware and software valued at $68,395.65. During the month, Bits & Bytes bought 16 scanners at a cost of$47.84 each, 24 CD burners at a cost of $37.75 each, and 48 software programs at a cost of$14.95 each. Bits & Bytes': ending inventory of computer hardware and software was valued at $52,936.89. What was the cost of the goods sold?

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Answered 1 year ago
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Let the beginning inventory be equal to $68,395.65\$68,395.65. Furthermore, let the receipts be equal to the sum of the received shipments, while the ending inventory is equal to $52,936.89\$52,936.89.

The goal of this exercise is to find the cost of goods sold.

How do we find the cost of goods sold?

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