Haack Inc. is a merchandising company. Last month the company's cost of goods sold was $61,200. The company's beginning merchandise inventory was $12,400 and its ending merchandise inventory was $22,000. What was the total amount of the company's merchandise purchases for the month?

(A) $95,600
(B) $51,600
(C) $70,800
(D) $61,200

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lamiediva76 lamiediva76 · Answer 1 · 2019-09-11T04:17:38+02:00

$61220+$12400=73600
Then minus or substrate 73600 from $22,000.
Then your answer will be $51,600

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abiolataiwo2015 abiolataiwo2015 · Answer 2 · 2021-10-05T12:08:12+02:00

The total amount of the company's merchandise purchases for the month is (C) $70,800

Calculation to determine the total amount of the company's merchandise purchases for the month

Using this formula

Merchandise purchases = Cost of goods sold + Ending merchandise inventory - Beginning merchandise inventory

Where:

Cost of goods sold =$61,200

Ending inventory=$22,000

Beginning merchandise inventory=$12,400

Let plug in the formula by solving for purchases

Merchandise purchases=$61,200+$22,000-$12,400

Merchandise purchases=$70,800

Inconclusion The total amount of the company's merchandise purchases for the month is (C) $70,800.

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