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A company begins the year with inventory of $42,000 and ends the year with inventory of $58,000. During the year, the following amounts are recorded:
A company begins the year with inventory of $42,000 and ends the year with inventory of $58,000. During the year, the following amounts are recorded:
| Purchases | $ 220,000 |
| Purchase returns | 22,000 |
| Purchase discounts | 15,000 |
| Freight-in | 33,000 |
Calculate cost of goods sold for the year.
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