ACCOUNTING
Multiple Choice
The following information pertains to Scott’s Production Company:
Beginning finished goods, 1/1/20x3 $ 40,000
Ending finished goods, 12/31/20x3 33,000
Cost of goods sold 250,000
Sales revenue 600,000
Operating expenses 120,000
145,000
What is operating income for 20x3?
a. $230,000
b. $123,000
c. $107,000
d. $157,000
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