Question
Elm Corporation is a merchandising company. The year began with inventory of $22,000, Purchases for the year were $47,000, and the Ending Inventory was $9,000.
Elm Corporation is a merchandising company. The year began with inventory of $22,000, Purchases for the year were $47,000, and the Ending Inventory was $9,000. What is the Cost of Goods Sold that would be reported on the income statement?
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$60,000
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$34,000
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$78,000
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$16,000
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Internal Control Anti Fraud Program Design For The Small Business
Authors: Steve Dawson
1st Edition
1119065070, 978-1119065074
