4. The records of Ree-ree Co. show the following information: Increase in Accounts Payable 10,000 Disbursement for Purchases 80,000 Decrease in Inventory 30,000 How much is the cost of goods sold? (show your solutions) a. 120,000 b. 100,000 c. 60,000 d. 40,000

4. The records of Ree-ree Co. show the following information: Increase in Accounts Payable 10,000 Disbursement for Purchases 80,000 Decrease in Inventory 30,000 How much is the cost of goods sold? (show your solutions) a. 120,000 b. 100,000 c. 60,000 d. 40,000

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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Question

4. The records of Ree-ree Co. show the following information:
Increase in Accounts Payable 10,000
Disbursement for Purchases 80,000
Decrease in Inventory 30,000

How much is the cost of goods sold? (show your solutions)
a. 120,000 b. 100,000 c. 60,000 d. 40,000

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