Rick Company began the accounting period with $56,500 of merchandise, and the net cost of purchases was $263,000. A physical inventory count showed $68,000 of merchandise unsold at the end of the period. The cost of goods sold of Rick Company for the period is ?

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Chapter4: Job Order Costing
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Problem 6EB: Langstons purchased $3,100 of merchandise during the month, and its monthly income statement shows a...
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General accounting 5.7

Rick Company began the accounting period
with $56,500 of merchandise, and the net
cost of purchases was $263,000. A physical
inventory count showed $68,000 of
merchandise unsold at the end of the
period. The cost of goods sold of Rick
Company for the period is ?
Transcribed Image Text:Rick Company began the accounting period with $56,500 of merchandise, and the net cost of purchases was $263,000. A physical inventory count showed $68,000 of merchandise unsold at the end of the period. The cost of goods sold of Rick Company for the period is ?
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