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A children's clothing store made the following transactions for swimwear in June: • Beginning inventory: $5,500 • Purchases during June: $12,800 • Desired ending inventory: $4,200 (to cover early July sales) Calculate the budgeted cost of goods sold for June. A. $14,100 B. $12,800 C. $13,500 D. $18,300

A children's clothing store made the following transactions for swimwear in June: • Beginning inventory: $5,500 • Purchases during June: $12,800 • Desired ending inventory: $4,200 (to cover early July sales) Calculate the budgeted cost of goods sold for June. A. $14,100 B. $12,800 C. $13,500 D. $18,300

FINANCIAL ACCOUNTING
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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A children's clothing store made the following transactions for swimwear in June: • Beginning inventory: $5,500 • Purchases during June: $12,800 • Desired ending inventory: $4,200 (to cover early July sales) Calculate the budgeted cost of goods sold for June. A. $14,100 B. $12,800 C. $13,500 D. $18,300
Transcribed Image Text:A children's clothing store made the following transactions for swimwear in June: • Beginning inventory: $5,500 • Purchases during June: $12,800 • Desired ending inventory: $4,200 (to cover early July sales) Calculate the budgeted cost of goods sold for June. A. $14,100 B. $12,800 C. $13,500 D. $18,300
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