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During the Year 2018,the Inventory of Debra's Gift Shop Decreased

Question 61

Multiple Choice

During the year 2018,the inventory of Debra's Gift Shop decreased by $50,000.(Assume beginning inventory was zero. ) If the income statement for the year 2018 reported cost of goods sold of $350,000,purchases during the year must have amounted to:


A) $400,000.
B) $310,000.
C) $300,000.
D) $350,000.

Correct Answer:

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