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How to use a 10-K annual report to find the cost of goods purchased. My professor wants me to calculate net purchases through using the
How to use a 10-K annual report to find the cost of goods purchased. My professor wants me to calculate net purchases through using the following cost of goods sold (COGS) formula: COGS = Cost of beginning inventory + Cost of goods purchased - Cost of ending inventory.
2. Use the cost of goods sold formula to compute net purchases, which are not reported in the corporation's financial statements. Include your calculations.
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