Corrigan Corporation had beginning inventory of $20,000 and ending inventory of $24,000. Itsnet sales were $164,000 and net purchases were $81,000.9. Corrigan’s cost of goods sold for the period isa. $63,000.b. $77,000.c. $85,000.d. $79,000.
Corrigan Corporation had beginning inventory of $20,000 and ending inventory of $24,000. Itsnet sales were $164,000 and net purchases were $81,000.9. Corrigan’s cost of goods sold for the period isa. $63,000.b. $77,000.c. $85,000.d. $79,000.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 3RE: Shaquille Corporation began the current year with inventory of 50,000. During the year, its...
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Corrigan Corporation had beginning inventory of $20,000 and ending inventory of $24,000. Its
net sales were $164,000 and net purchases were $81,000.
9. Corrigan’s cost of goods sold for the period is
a. $63,000.
b. $77,000.
c. $85,000.
d. $79,000.
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