The following information PERTAINS TO Bright Toy Company’s operating activities for 2012. The company sells light box toys and sold 10,000 units in 2012.
Purchases $126,000
Selling and Administrative Expenses 90,000
Merchandise Inventory 1/1/2012 14,000
Merchandise inventory, 12/31/2012 10,000
Sales Revenue 250,000
What is the cost of goods sold for 2012?
A. $104,000
B. $124,000
C. $140,000
D. $130,000
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