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Presented below are the components in determining cost of goods sold for (a) Frazier Company, (b) Todd Company, and (c) Abreu Enterprises. Determine the missing
Presented below are the components in determining cost of goods sold for (a) Frazier Company, (b) Todd Company, and (c) Abreu Enterprises. Determine the missing amounts. Beginning Inventory $120,000 Purchases $150,000 Cost of Goods Available for Sale ? Ending Inventory ? Cost of Goods Sold $160,000 Purchases $125,000 - $50,000 = $75,000 Cost of goods sold = $125,000 - $45,000 = $80,000 Beginning inventory = $330,000 - $220,000 = $110,000 Cost of goods sold = $330,000 $61,000 = $269,000 Cost of goods available for sale = $120,000+ $150,000 ONeither a, b or c $270,000 Ending inventory = $270,000 - $160,000 = $110,000
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