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Calculate the cost of goods sold for a merchandiser using the periodic inventory system from the following details. Purchases $545,000 Beginning Merchandise Inventory 185,000 Purchase
- Calculate the cost of goods sold for a merchandiser using the periodic inventory system from the following details.
| Purchases | $545,000 | ||||
| Beginning Merchandise Inventory | 185,000 | ||||
| Purchase Returns and Allowances | 50,000 | ||||
| Freight In | 22,000 | ||||
| Ending Merchandise Inventory | 140,000 | ||||
| A) $662,000 | B) $562,000 | C) $518,000 | D) $842,000 | ||
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College Accounting Ch 1-12
Authors: Dansby
5th Edition
0763834955, 978-0763834951
