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Kitty Hawk Kites trial balance reports an unadjusted Inventory balance of $1,050 and Cost of Goods Sold of $33,400. A physical count of the inventory
Kitty Hawk Kites trial balance reports an unadjusted Inventory balance of $1,050 and Cost of Goods Sold of $33,400. A physical count of the inventory indicates that the inventory on hand is $1,000. After the appropriate adjusting journal entry is made, the balance in Cost of Goods Sold will be:
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