Use the following information to calculate Honest Tea, Inc.'s Cost of Goods Sold for the year. Note: All purchases of inventory are on accou December 31 Inventory $17,000 January 1 Inventory 10,000 Sales during the year 50,000 December 31 Accounts Payable 23,000 Purchases of Inventory on Account during the year 31,000
Use the following information to calculate Honest Tea, Inc.'s Cost of Goods Sold for the year. Note: All purchases of inventory are on accou December 31 Inventory $17,000 January 1 Inventory 10,000 Sales during the year 50,000 December 31 Accounts Payable 23,000 Purchases of Inventory on Account during the year 31,000
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:QUESTION 32
Use the following information to calculate Honest Tea, Inc.'s Cost of Goods Sold for the year. Note: All purchases of inventory are on accour
December 31 Inventory
$17,000
January 1 Inventory
10,000
Sales during the year
50,000
December 31 Accounts Payable
23,000
Purchases of Inventory on Account during the year
31,000
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