=+Determining cost of obj. 1 For (a) through (d), identify the items designated by X and Y.
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=+Determining cost of obj. 1 For
(a) through (d), identify the items designated by “X” and “Y.”
a. Purchases (X + Y) = Net purchases.
b. Net purchases + X = Cost of merchandise purchased.
c. Merchandise inventory (beginning) + Cost of merchandise purchased = X.
d. Merchandise available for sale X = Cost of merchandise sold.
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