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Explain the relationship of inventory and cost of goods sold by selecting the correct formula below. Beginning inventory + Ending inventory = Cost of goods

Explain the relationship of inventory and cost of goods sold by selecting the correct formula below.
Beginning inventory + Ending inventory = Cost of goods sold.
Beginning inventory + Net purchases - Ending inventory = Cost of goods sold.
Beginning inventory + Cost of goods sold = Ending inventory.
Beginning inventory + Net purchases = Cost of goods sold.
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