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The Hamlet Company uses the periodic inventory system. Information for the current year is as follows: Sales $ 2,650,000 Beginning inventory 680,000 Purchases 1,200,000 Purchase
The Hamlet Company uses the periodic inventory system. Information for the current year is as follows:
Sales | $ | 2,650,000 | |
Beginning inventory | 680,000 | ||
Purchases | 1,200,000 | ||
Purchase returns | 12,000 | ||
Ending inventory | 740,000 | ||
Hamlet's cost of goods sold for the current year is:
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