Using the following information, calculate cost of goods sold for the year ended December 31, 2014. Merchandise
Question:
Merchandise inventory (January 1, 2014) $ 40,000
Kay Bondar, capital 102,000
Kay Bondar, withdrawals 65,000
Sales 450,000
Sales returns and allowances 27,000
Purchases 180,000
Purchase discounts 1,400
Transportation-in 14,000
Merchandise inventory (December 31, 2014) 22,000
Salaries expense 120,000
Depreciation expense 31,000
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Merchandise inventory January 1 2014 40000 Purchases 1800...View the full answer
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Related Book For 
Fundamental Accounting Principles
ISBN: 978-0071051507
Volume I, 14th Canadian Edition
Authors: Larson Kermit, Tilly Jensen
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