Question

Bierman's, a local department store, sold a range of products. Yesterday, an order arrived for the appliance center. 300 ovens, purchased at a cost of $200 each, were distributed among 8 stores. 200 were sold for $300 each across all stores. The cost of goods sold totals​

Answer 1

The Bierman's Cost of Goods Sold totals $40,000.

The Cost of Goods Sold is computed as the product of the number of units of the ovens sold by the unit cost price.

Data and Calculations:

Number of units bought = 300

Cost price per unit = $200

Cost of purchases = $60,000 (300 x $200)

Number of units sold = 200

Sales price per unit = $300

Cost of Goods Sold = $40,000 (200 x $200)

Thus, the cost of goods sold is $40,000.

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