Pinkney Company updates its inventory periodically.The company's beginning inventory was $5,000 and purchases were $10,600 during the year.The company's ending inventory count was $7,000.
Required:
Determine the amount of cost of goods sold for the year.

Question

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The Answer of Pinkney Company updates its inventory periodically.The company's beginning inventory was $5,000 and purchases were $10,600 during the year.The company's ending inventory count was $7,000.
Required:
Determine the amount of cost of goods sold for the year.

Pinkney Company Updates Its Inventory Periodically