Business
Business, 01.12.2020 16:40, godisgoodallthoubxi7

The following information pertains to Deal Corp.’s year 2 cost of goods sold: Inventory, 12/31/Y1 $ 90,000
Year 2 purchases 124,000
Year 2 write-off of obsolete inventory 34,000
Inventory, 12/31/Y2 30,000
The inventory written off became obsolete due to an unexpected and unusual technological advance by a competitor. In its year 2 income statement, what amount should Deal report as cost of goods sold?
a. $218,000
b. $184,000
c. $150,000
d. $124,000

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Answers: 2

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The following information pertains to Deal Corp.’s year 2 cost of goods sold: Inventory, 12/31/Y1 $...

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