SOLUTION: On February 2, the stocks of USB Drug Store was recorded at $312,402. Goods purchased during the month amounted to $82,575. On March 1, the inventory stood at $271,860. What was th

Algebra.Com
Question 381478: On February 2, the stocks of USB Drug Store was recorded at $312,402. Goods purchased during the month amounted to $82,575. On March 1, the inventory stood at $271,860. What was the cost of goods sold in February?
Answer by ewatrrr(24785)   (Show Source): You can put this solution on YOUR website!


Hi,

Let x represent the cost of goods sold in February



Question states:

  $312,402 + $82,575 - x = $271,860

  $312,402 + $82,575 - $271,860 = x, the cost of goods sold in February



   

RELATED QUESTIONS


 Hamilton Company uses job-order costing. Manufacturing overhead is applied using a... (answered by TeeTeeMonique)

Mr. X commenced business on 1 June 2022. The following transactions took place during the  (answered by ikleyn)

A company has a manufacturing plant that is producing quality USB drives. They find that... (answered by josgarithmetic,MathTherapy)

A store offers a discount of 15% on all items sold. A shopper pays $350 for purchases... (answered by checkley77)

Bank charges for the month of February 20.8 was R350 and interest on overdraft was R200.... (answered by ikleyn)

Mr. X commenced business on 1 June 2022. The following transactions took place during the  (answered by ikleyn)

r. X commenced business on 1 June 2022. The following transactions took place during the... (answered by ikleyn)

A used car was purchased $900,000. Its value depreciates by 30% in the first year. In... (answered by josgarithmetic)

I am trying to solve for x. 
Jane's purchased one item at a drug store, and the total... (answered by checkley71)