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Calculating ending inventory and cost of goods sold

Question: Calculate ending inventory and cost of goods sold using the dollar-value LIFO retail method. I have a Net Sales to customers of $650,000, Sales to employees (net of 30% discount) of $14,000. What do I have to do to get the actual net sales?

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Accounting Basics: Calculating ending inventory and cost of goods sold

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Accounting Basics: Calculating ending inventory and cost of goods sold

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