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Compute how much will goldman report as cost of goods sold

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Reference no: EM132698207

The following is from Goldman Inc.'s 2017 income statement.

Purchases$172,000

Transportation-in11,000

Inventory, January 1, 201726,500

Inventory, December 31, 201728,800

Purchase returns and allowances8,400

Problem 1: How much will Goldman report as its cost of goods sold in its 2017 income statement?

a.$161,500

b.$172,300

c.$161,300

d.None of these choices are correct.

Reference no: EM132698207

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