Financial Accounting
The following sample questions do not appear on an actual CLEP examination. They are intended to give potential test-takers an indication of the format and difficulty level of the examination and provide content for practice and review. For more sample questions and information about the test, see the CLEP Official Study Guide.
Question 3 of 7
A company's beginning inventory is $20,000, purchases for a period are $240,000, and ending inventory is $30,000. How much is cost of goods sold?
A.
$220,000
B.
$230,000
C.
$240,000
D.
$250,000
E.
$290,000
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CLEP® Financial Accounting Examination Guide
The Financial Accounting exam focuses on the skills and concepts taught in a introductory financial accounting course.
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