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The basic calculation for Cost of Goods Sold for a retail business is:

Responses

Beginning Inventory - Inventory Purchases + End Inventory = Cost of Goods Sold
Beginning Inventory - Inventory Purchases + End Inventory = Cost of Goods Sold

Beginning Inventory + Inventory Purchases + End Inventory = Cost of Goods Sold
Beginning Inventory + Inventory Purchases + End Inventory = Cost of Goods Sold

Beginning Inventory - Inventory Purchases - End Inventory = Cost of Goods Sold
Beginning Inventory - Inventory Purchases - End Inventory = Cost of Goods Sold

Beginning Inventory + Inventory Purchases - End Inventory = Cost of Goods Sold
Beginning Inventory + Inventory Purchases - End Inventory = Cost of Goods Sold

All Answers 1

Answered by GPT-5 mini AI
Beginning Inventory + Inventory Purchases − End (Ending) Inventory = Cost of Goods Sold.

Explanation: Goods available for sale = Beginning Inventory + Purchases. COGS = Goods available for sale − Ending Inventory.