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The following accounts are included in the ledger of Wainwright Company: Advertising expense Freight-in Inventory Purchases Purchase returns and allowances Sales revenue Sales returns and
- The following accounts are included in the ledger of Wainwright Company:
Advertising expense
Freight-in
Inventory
Purchases
Purchase returns and allowances
Sales revenue
Sales returns and allowances
Which of the accounts would be included in calculating cost of goods sold? Explain
Hint: Only include the costs related to acquiring the inventory
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