Answered: Purchases, $100,000; beginning…

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Purchases, $100,000; beginning inventory, $20,000; and ending inventory, $30,000. How much was the cost of goods sold?

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 2MC: The following information is available for Cooke Company for the current year: The gross margin is...

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Question

Purchases, $100,000; beginning inventory,
$20,000; and ending inventory, $30,000.
How much was the cost of goods sold?

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