. The records of Ree-ree Co. show the following information: Increase in accounts payable 10,000 Disbursements for purchases 80,000 Decrease in inventory 30,000 How much is the cost of goods sold? a.120,000 b. 100,000 c. 60,000 d.40,000

. The records of Ree-ree Co. show the following information: Increase in accounts payable 10,000 Disbursements for purchases 80,000 Decrease in inventory 30,000 How much is the cost of goods sold? a.120,000 b. 100,000 c. 60,000 d.40,000

Name: 4. The records of Ree-ree Co. show the following information:Increase
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Description: 4. The records of Ree-ree Co. show the following information:Increase in accounts payable 10,000Disbursements for purchases 80,000Decrease in inventory 30,000How much is the cost of goods so

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Using the information below, calculate Gross Profit: Sales Revenue $5,000 Sales Discounts $664 Sales Returns and Allowances $357 Cost of Goods Sold $1,306 Inventory $1,451
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Austin Sound sold inventory for $300,000, terms 2/10, n/30. Cost of goods sold was $152,000. How much sales revenue will Austin Sound report from the sale? a. $152,000 b. 3294,000 c. $148,960 d. $300,000
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