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Cost of goods sold is equal to a. the cost of merchandise purchased plus transportation costs less ending inventory. b. the cost of merchandise purchased
Cost of goods sold is equal to
a. the cost of merchandise purchased plus transportation costs less ending inventory.
b. the cost of merchandise purchased plus transportation costs plus beginning inventory minus purchase returns and allowances and purchased discounts minus ending inventory.
c. the cost of merchandise purchased plus transportation costs plus beginning inventory minus purchase returns and allowances and purchase discounts.
d. the total amount of merchandise purchased during the year.
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