Beginning inventory for the period was $100,000

by | Mar 18, 2020 | Uncategorized

  

Beginning inventory for the period was $100,000. Purchases for the period totaled $550,000 and
sales were $1,000,000. A physical count of ending inventory revealed inventory of $130,000.
Compute cost of goods sold assuming that a periodic system is used.

$520,000

$450,000

$580,000

$540,000

$550,000

  

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