What is the total cost of goods sold recorded by Venden upon the initial sale of cameras?

Prepare for ASU's ACC232 Financial Accounting I Exam 2. Access comprehensive study materials, quizzes, and detailed solutions to boost your confidence and readiness for exam day.

To determine the total cost of goods sold (COGS) recorded by Venden upon the initial sale of cameras, it’s essential to consider the calculations involved in COGS. COGS reflects the direct costs attributable to the production of the goods sold by a company. This includes the cost of manufacturing or purchasing the cameras.

If the correct answer is 6,000, this figure likely comes from the accumulation of the costs associated with the cameras that were sold:

  1. Cost Per Camera: The price Venden paid for each individual camera is critical. For example, if each camera costs 1,000, and six cameras were sold, then the COGS would be calculated as 1,000 multiplied by 6.

  2. Quantity Sold: The total number of cameras sold must align with the calculation. If Venden sold a total of 6 cameras, that would directly affect the outcome of the COGS.

  3. Inventory or Purchases: If Venden had inventory records showing that these cameras were indeed purchased at a total cost of 6,000, this would confirm the figure accurately represents the cost associated with the sold inventory.

The answer of 6,000 reflects the actual

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