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Which of the following statements are true? In a contribution format income statement for a merchandising company, the cost of goods sold reports the product

Which of the following statements are true?
In a contribution format income statement for a merchandising company, the cost of goods sold reports the product costs attached to the merchandise sold during the period.
Contribution format income statements are prepared primarily for external reporting purposes.
Most companies use the contribution approach in preparing financial statements for external reporting purposes.

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