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Michael uses its periodic inventory system and the following information is available:

-What is the cost of goods sold?

Question

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Michael uses its periodic inventory system and the following information is available:
 
-What is the cost of goods sold?

Quizplus · Accepted Answer

The cost of goods sold (COGS) is calculated by adding the beginning inventory to the purchases made during the period and then subtracting the ending inventory. Without specific numbers for beginning inventory, purchases, and ending inventory provided in the question, it's impossible to accurately calculate COGS or explain why $33,600 is the correct answer. However, in a typical scenario, if $33,600 is identified as the correct answer, it would be based on specific financial information related to inventory and purchases.

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