Supply the proper terms to complete the following statements: LO3 a Net sales cost of goods

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Supply the proper terms to complete the following statements: LO3 a Net sales — cost of goods sold = _L b Beginning inventory + purchases — purchase returns and allowances —

purchase discounts + transportation-in = _L c Cost of goods sold + ending inventory = JL d Cost of goods sold + gross profit on sales = JL e Net income + operating expenses = _L

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Accounting The Basis For Business Decisions

ISBN: 9780070415515

5th Edition

Authors: Robert F. Meigs, Walter B Meigs

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