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The following information was obtained from Pep Pepsis Sales $350,000, Beg. Inv. $40,000, purchases. $90,000. Pep Pepsis gross margin is 20%. What amount represents Pep

The following information was obtained from Pep Pepsis Sales $350,000, Beg. Inv. $40,000, purchases. $90,000. Pep Pepsis gross margin is 20%. What amount represents Pep Pepsis cost of goods sold?

Cost of good sold would be 350,000*80%=280,000

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