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Determining the cost of goods sold by periodic system

Computing Cost of Goods Sold with a Periodic System

Response to the following problem:

The company uses a periodic inventory system. Beginning inventory was $6,000. Net purchases (including freight in, purchase returns, and purchase discounts) were $23,000. The physical count of inventory at the end of the year revealed ending inventory to be $7,500. Compute cost of goods sold.

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Cost Accounting: Determining the cost of goods sold by periodic system

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Cost Accounting: Determining the cost of goods sold by periodic system

Reference No:- TGS02115582

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