Question
The Chocolate Factory had the following figures in its accounting records. Inventory 1.1.21 $100,000; Inventory 12.31.21 $32,000; Sales during 2021 $2,675,000; Purchases during 2021 $1,065,000;
The Chocolate Factory had the following figures in its accounting records. Inventory 1.1.21 $100,000; Inventory 12.31.21 $32,000; Sales during 2021 $2,675,000; Purchases during 2021 $1,065,000; Operating expenses for 2021 $35,000. Compute Cost of Goods Sold for 2021.
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$1,133,000
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$695,000
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$1,507,000
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$1,115,000
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Accounting Best Practices
Authors: Steven M. Bragg
3rd Edition
0471444286, 978-0471444282
