Question
6. Oakland Retail Group begins the year with inventory of $65,000 and ends the year with inventory of $55,000. During the year, the company has
6. Oakland Retail Group begins the year with inventory of $65,000 and ends the year with inventory of $55,000. During the year, the company has four purchases for the following amounts.
| Purchase on February 17 | $220,000 |
|---|---|
| Purchase on May 6 | 140,000 |
| Purchase on September 8 | 170,000 |
| Purchase on December 4 | 420,000 |
Required:
Calculate cost of goods sold for the year.
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Dk Essential Managers Understanding Accounts
Authors: Stephen Brookson, Adele Hayward
1st Edition
0789471493, 978-0789471499
