Question
beginning inventory = 68700 (Debit) purchases = 426800 (Debit) freight-in = 5700 (Debit) Purchase discounts and returns = $6500 (credit) Sales Revenue = 644000 (credit)
beginning inventory = 68700 (Debit) purchases = 426800 (Debit) freight-in = 5700 (Debit) Purchase discounts and returns = $6500 (credit) Sales Revenue = 644000 (credit) Sales Return = 8000 (credit) if the company's ending inventory is $77000, what is its cost of goods sold? Choose one A: $417700 B:$216250 C:$409700 D:$221950
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Integrated Audit Practice Case
Authors: David S. Kerr, Randal J. Elder, Alvin A. Arens
7th Edition
0912503688, 978-0912503684
