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Goshen City acquires $36,000 of inventory on November having held no inventory previously. On December 31,20X5. the end of Goshen City's fiscal year, a physical

Goshen City acquires $36,000 of inventory on November having held no inventory previously. On December 31,20X5. the end of Goshen City's fiscal year, a physical court shows $7,000 still in stock During 20X6, 5,000 of this inventory is used resulting in a $2,000 remaining balance of supplies on December 31, 20X6.
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