Richard starts his own business in 2016 with 2000 owners


Question - Richard starts his own business in 2016 with $2,000 owner's capital. In 2016, he bought 10 textbooks at $1,000 and sold 5 of them at $600. There is no other transaction during 2016.

What is the cost of goods sold in 2016?

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Accounting Basics: Richard starts his own business in 2016 with 2000 owners
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