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At the start of 20X1, Pluto Inc. had inventory with a cost of $60,000. During 20X1, inventory costing a net $700,000 was purchased. At the
At the start of 20X1, Pluto Inc. had inventory with a cost of $60,000. During 20X1, inventory costing a net $700,000 was purchased. At the end of 20X1, Pluto determines the cost of its remaining (ending) inventory is $25,000. Question: What should Pluto report as its cost of goods sold for 20X1? Select one: a. $785,000 O b. $735,000 O c. $660,000 O d. $685,000 O e. $760,000
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