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Cirnamon Buns Compary (CBC) started 2024 with $53,700 of inventory on hand During 2024,5289000 in inventory was purchased on account with credt terma of 2/10.
Cirnamon Buns Compary (CBC) started 2024 with $53,700 of inventory on hand During 2024,5289000 in inventory was purchased on account with credt terma of 2/10. returned for credit, Cost of goods sold for the year was $299,000 CBC uses a perpetual inventory system Assuming CBC uses the gross method to record purchases, ending inventory would be: Multiple Chouce $42,114 512+14 $50700 $42030
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Construction accounting and financial management
Authors: Steven j. Peterson
2nd Edition
978-0135017111
