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Which of the following statements about cost of goods sold is correct? For a manufacturer it is a measure of the cost of raw materials
Which of the following statements about cost of goods sold is correct?
For a manufacturer it is a measure of the cost of raw materials and supplies used for producing items for sale |
Retailers do not have a cost of goods sold on their income statements |
Subtract the cost of goods sold from net sales, the result is net profit |
All of the above statements are correct |
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