Wilson's Bookstore had a cost of goods sold of $750,000 for the year. The company's inventory increased by $35,000 during the year. What was the amount of purchases made during the year? A. $715,000 B. $785,000 C. $750,000 D. Cannot be determined

Wilson's Bookstore had a cost of goods sold of $750,000 for the year. The company's inventory increased by $35,000 during the year. What was the amount of purchases made during the year? A. $715,000 B. $785,000 C. $750,000 D. Cannot be determined

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

provide correct answer General accounting question

Wilson's Bookstore had a cost of goods sold of $750,000
for the year. The company's inventory increased by
$35,000 during the year. What was the amount of
purchases made during the year?
A. $715,000
B. $785,000
C. $750,000
D. Cannot be determined

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