Question
Cox Merchandising Company began the year with merchandise inventory of $60,000, ended the year with merchandise inventory of $70,000, and had cost of goods sold
Cox Merchandising Company began the year with merchandise inventory of $60,000, ended the year with merchandise inventory of $70,000, and had cost of goods sold of $110,000. What was the Cox Merchandising Company's net purchases for the year?
a. $100,000
b. $110,000
c. $120,000
d. $130,000
e. $180,000
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Intermediate Accounting
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
10th Edition
324300980, 978-0324300987
