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please solve What is cost of goods sold given the five transactions below? (Beginning balance inventory = 5,000). Your Company purchased $50,000 of inventory on
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What is cost of goods sold given the five transactions below? (Beginning balance inventory = 5,000). Your Company purchased $50,000 of inventory on account, terms 3/10, n30. Your Company purchased inventory under FOB destination. The shipping cost $500. Your Company returned $10,000 of the inventory before paying its bill. Your Company paid the amount owed in the first transaction on day 8. Your company sold all of its inventory for $65,000 on account, terms 2/10, n30. 0 $43,800 o $45,000 0 $44,300 O $43,800 O $39,300Step by Step Solution
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