Question #5
Multiple Choice
The basic calculation for Cost of Goods Sold for a retail business is:
Beginning Inventory + Inventory Purchases + End Inventory = Cost of Goods Sold
O Beginning Inventory + Inventory Purchases - End Inventory = Cost of Goods Sold
Beginning Inventory - Inventory Purchases - End Inventory = Cost of Goods Sold
O Beginning Inventory - Inventory Purchases + End Inventory = Cost of Goods Sold
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