Answer:
$1,840,000
Explanation:
The computation of the cost of goods sold is shown below:
As we know that
Cost of goods sold = Opening inventory + Purchase - ending inventory
where,
Cost of goods sold = Sales revenue - sales revenue × gross profit ratio
= $2,600,000 - $2,600,000 × 0.35
= $2,600,000 - $910,000
= $1,690,000
Now the purchase amount is
$1,690,000 = $300,000 + purchase - $450,000
So, the purchase amounted to
= $1,840,000
