Which of the following formulas determine cost of goods sold in a merchandising entity?

ACCOUNTING

Multiple Choice

Which of the following formulas determine cost of goods sold in a merchandising entity?

a. Beginning inventory + Purchases + Ending inventory = Cost of goods sold

b. Beginning inventory + Purchases - Ending inventory = Costs of goods sold

c. Beginning inventory - Purchases + Ending inventory = Cost of goods sold

d. Beginning inventory - Ending inventory - Purchases = Cost of goods sold

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