Answer:
$103,000
Explanation:
Data provided as per the question is given below
Beginning inventory = $12,000
Purchases inventory = $120,000
Ending inventory = $29,000
The computation of cost of goods sold is shown below:-
Cost of goods sold = Beginning inventory + Purchases inventory - Ending inventory
= $12,000 + $120,000 - $29,000
= $132,000 - $29,000
= $103,000