When Taylor company had beginning inventory of $630; ending inventory of $910, and costs of goods sold is equivalent to $2,390, the amount of inventory purchased during the period will be $2,670.
The cost of goods sold can be referred to or considered as the costs incurred by an accounting firm to be able to generate revenues through sales of its goods and services.
Cost of Goods Sold = Beginning inventory + Inventory Purchased - Ending Inventory
2390 = 630 + Amount of Inventory - 910
Amount of Inventory = 2390+910-630
Amount of Inventory = $2,670
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