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Elm Corporation is a merchandising company. The year began with inventory of $19.000, Purchases for the year were $44,000, and the Ending Inventory was $6.000.

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Elm Corporation is a merchandising company. The year began with inventory of $19.000, Purchases for the year were $44,000, and the Ending Inventory was $6.000. What is the Cost of Goods Sold that would be reported on the income statement? Multiple Choice $10.000 57000 $31000 500000

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