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The Following Are Selected Data for the Young Company Required:
Compute the Following:
A

Question 71

Essay

The following are selected data for the Young Company:
 Administrative expenses $120 Beginning inventory 140 Net sales 1,050 Net income 130 Encling inventory 180 Sales returns 80 Total operating expenses 380 Purchases 600\begin{array}{ll}\text { Administrative expenses } & \$ 120 \\\text { Beginning inventory } & 140 \\\text { Net sales } & 1,050 \\\text { Net income } & 130 \\\text { Encling inventory } & 180 \\\text { Sales returns } & 80 \\\text { Total operating expenses } & 380 \\\text { Purchases } & 600\end{array}
Required:
Compute the following:
a. Sales
b. Purchase retumes
c. Selling expenses
d. Cost of goods sold

Correct Answer:

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Note: Solve in the following order: a, c...

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