Computing cost of goods sold in a periodic inventory system, Finance Basics

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Computing cost of goods sold in a periodic inventory system

Question: Computing cost of goods sold in a periodic inventory system Zeta Electric uses the periodic inventory system. Zeta reported the following selected amounts at May 31, 2016:

Compute the following for Zeta:

a. Net sales revenue.

b. Cost of goods sold.

c. Gross profit.

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Finance Basics: Computing cost of goods sold in a periodic inventory system

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Finance Basics: Computing cost of goods sold in a periodic inventory system

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