What is the cost of goods sold for the year?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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am. 113.
Transcribed Image Text:3-Tulsa Company, (a merchandising Co.) has the following data pertaining to the year ended
December 31, 2016:
Purchases
Beginning inventory
Ending inventory
Freight-in
Freight-out
$450,000
170,000
210,000
50,000
75,000
What is the cost of goods sold for the year?
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