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The Merchant of Tennis, Inc., had $10,000 of inventory at the beginning of the period. During the period it purchased $40,000. Based on a physical
The Merchant of Tennis, Inc., had $10,000 of inventory at the beginning of the period. During the period it purchased $40,000. Based on a physical count of inventory at the end of the accounting period, it had $4,000 in inventory. Based on this information, calculate Cost of Goods Sold for the period.
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