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Financial Accounting (AC 221-01) October 13, 2023 XYZ Company's accounting records show the following at the year-end December 31, 2025. Freight-In $6,200 Purchases $162,500
Financial Accounting (AC 221-01) October 13, 2023 XYZ Company's accounting records show the following at the year-end December 31, 2025. Freight-In $6,200 Purchases $162,500 Beginning Inventory $18,000 Ending Inventory Purchase Discounts $22,000 $3,400 Purchase Returns and Allowances $4,200 Assuming that XYZ Company uses the periodic system, compute (a) cost of goods purchased and (b) cost of goods sold.
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