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I need to show my workings and steppings The following information is available: Sales $ 2,850 Inventory-year-end $ 1.500 Purchases $ 1.950 Cost of Goods

I need to show my workings and steppings

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The following information is available: Sales $ 2,850 Inventory-year-end $ 1.500 Purchases $ 1.950 Cost of Goods Sold $ 2.400 Calculate the gross profit: ANSWER During the year 2015, the inventory of Debra's Gift Shop decreased by $50,000. If the income statement for the year 2015 reported cost of goods sold of $350,000, purchases during the year must have amounted to: ANSWER is available: Michael uses its periodic inventory system and the following information $43,400 Inventory-Beginning............ 11,200 Inventory-Ending......... 9.800 32,200 Refer to the information above. What is the cost of goods sold? ANSWER Refer to the information above. What is the gross profit

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