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Question 1 At the beginning of the year, Albertson Incorporated reports inventory of $7,700. During the year, the company purchases additional inventory for $22,700. At
Question 1
At the beginning of the year, Albertson Incorporated reports inventory of $7,700. During the year, the company purchases additional inventory for $22,700. At the end of the year, the cost of inventory remaining is $9,700. Calculate cost of goods sold for the year.
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Question 2
For each company, calculate the missing income statement amount.
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