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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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