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Calculate Period End Cost of Goods Sold with the Following

Question 60

Essay

Calculate period end Cost of Goods Sold with the following information:
Beginning Inventory $35,000
Purchases $49,000
Purchases Discounts $3,000
Purchases Returns $4,500
Transportation-in $2,000
Ending Inventory $42,000

Correct Answer:

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Beginning Inventory 35,000
+ Purchases 4...

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