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What was cost of goods sold in 2019

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Question: X Company is a merchandiser. It incurred the following costs in 2019:Employee salaries. $16,528

Utility costs. 26,075

Insurance costs. 26,225

Supply costs. 17,522

Equipment rental 19,341

Merchandise purchases. 83,721

Advertising costs 10,784

Warehouse costs 24,068

Miscellaneous operating costs 13,003

The Merchandise Inventory account had a January 1 balance of $30,395 and a December 31 balance of $16,767. What was Cost of Goods Sold in 2019?

Reference no: EM132715439

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