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Cost of Goods Sold = [ ? ]

Cost of Goods Sold = [ ? ]

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 small gift shop has a beginning inventory that is valued at $9,120. If the additional inventory detailed in the box is purchased, and the ending inventory is valued at $1,940 after a certain period, what is the cost of goods sold over this period? Additional Inventory Purchased Item Cost Units Total puzzles $15.00 10 $150.00 shirts $18.00 12 $216.00 key chains $5.50 $88.00 Cost of Goods Sold = [ ?] Round to the nearest hundredth. Enter 2003- 2022 International Academy of Science. All Rights Reserved.
Transcribed Image Text:A small gift shop has a beginning inventory that is valued at $9,120. If the additional inventory detailed in the box is purchased, and the ending inventory is valued at $1,940 after a certain period, what is the cost of goods sold over this period? Additional Inventory Purchased Item Cost Units Total puzzles $15.00 10 $150.00 shirts $18.00 12 $216.00 key chains $5.50 $88.00 Cost of Goods Sold = [ ?] Round to the nearest hundredth. Enter 2003- 2022 International Academy of Science. All Rights Reserved.
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