The following information is available for Sheridan Company: Sales Revenue $390800 Freight-In $30000 Ending Inventory 38500 Purchase Returns and Allowances 14800 Purchases 270800 Beginning Inventory 44300 Sheridan's cost of goods sold under a periodic inventory system is O $262300. ○ $286000. ○ $291800. O $331500.

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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The following information is available for Sheridan Company:
Sales Revenue
$390800
Freight-In
$30000
Ending Inventory
38500
Purchase Returns and Allowances
14800
Purchases
270800
Beginning Inventory
44300
Sheridan's cost of goods sold under a periodic inventory system is
O $262300.
○ $286000.
○ $291800.
O $331500.
Transcribed Image Text:The following information is available for Sheridan Company: Sales Revenue $390800 Freight-In $30000 Ending Inventory 38500 Purchase Returns and Allowances 14800 Purchases 270800 Beginning Inventory 44300 Sheridan's cost of goods sold under a periodic inventory system is O $262300. ○ $286000. ○ $291800. O $331500.
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