Multiple Choice
Given the following information for a company using the periodic inventory system:
\(\begin{align*}\)
\(\text{Beginning Inventory}\) &= \$10,000 \\
\(\text{Purchases}\) &= \$25,000 \\
\(\text{Ending Inventory}\) &= \$8,000
\(\end{align*}\)
What is the Cost of Goods Sold (COGS)?
