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>This is the question I had at 8:00 this morning. >I need to know how to find the answer for COGS is >3,000,000. I know the beginning inventory is >(270,000)+ material purchase which is >(3,300,000)-Ending inventory(???) :( >I believe the ending inventory has something to do >with the 10,000 units that were sold, but I do not >know how they got the answer. I have tried many ways > >Thanks for the help. > >In 1999, Burghoff, Inc. (a hardware retail company) >sold 10,000 units of its product at an average price >of $400 per unit. The company reported estimated >Returns and Allowance in 1999 of $200,000. Burghoff >actually purchased 11,000 units of its product from >its manufacturer in 1999 at an average cost of $300 >per unit. Burghoff began 1999 with 900 units of its >product in inventory (carried at an average cost of >$300 per unit). Operating expenses for Burghoff, Inc. > in 1999 were $500,000. Burghoff had $2,000,000 in >debt outstanding throughout all of 1999. This debt >carried an average interest rate of 10 percent. >Finally, Burghoff's tax rate was 40 percent. >Burghoff's 199 multi-step income statement.

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