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Cinnamon Buns Company (CBC) Started in 2024 with $60,500 of inventory on hand... Cost of goods sold for the year was $333,000. CBC uses a
Cinnamon Buns Company (CBC) Started in 2024 with $60,500 of inventory on hand...
Cost of goods sold for the year was $333,000. CBC uses a perpetual inventory system. Assume instead that (a) freight costs were paid by the vendoc, (b) no discounts were taken, and (c) the inventory on hand at the beginning of 2024 was determined by a physical count that falled to realize that $18.500 of inventory was being held on consignment for Frosting R Us Incorporated. What is cost of goods avalable for sale. assuming CBC uses the gross method to record purchase discounts? Mutple Choice $334600 $357,600 $335080 $34000 Step by Step Solution
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