The records of Jimmy Company show 2019 purchases of $90,000.An actual count revealed a 2019 ending inventory of $8,000.The 2019 beginning inventory was $5,000.What was cost of goods sold for 2019?

Cost of Goods Sold

Represents the direct costs attributable to the production of the goods sold by a company, including material, labor, and overhead costs.

Ending Inventory

The value of goods available for sale at the end of an accounting period, calculated as beginning inventory plus purchases minus cost of goods sold.

Purchases

Purchases refer to the acquisition of goods or services by a company or individual, often implying the transaction in a business context.