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In the following month, Nasser sells goods on credit to his customers for $ 6 , 0 0 0 . He already had some inventories,

In the following month, Nasser sells goods on credit to his customers for $6,000. He already had some inventories, costing $10,000, so he used $1,000 worth of that existing inventory, and bought in another $3,000 worth of inventories that was all used to fulfil the order and promised the supplier to pay them later. He has not yet paid for this extra inventory. His rent bill for the month is $500 and his van running costs are $300. He withdraws $200 from the business for his private use. Prepare a Cost of Goods Sold Statement for Nasser.
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