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Destiny Industries reports beginning inventory of​ $254,000, purchases of​ $559,000, and ending inventory of​ $198,000. What...

Destiny Industries reports beginning inventory of​ $254,000, purchases of​ $559,000, and ending inventory of​ $198,000. What is the cost of goods​ sold?

A.​$615,000

B.​$813,000

C.$503,000

D.​$1,011,000

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1 Answer: A 3 Computation of cost of goods sold 4 Particulars Amount 5 Beginning inventory $ 2,54,000 6 ADD: Purchases $ 5,59,000 7 Cost of goods available for sale $ 8,13,000 8 LESS: Ending inventory $ 1,98,000 9 Cost of goods sold $ 6,15,000

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