see all exams

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

Show Answer

Register