South-western Federal Taxation 2020: Comprehensive (with Intuit Proconnect Tax Online & Ria Checkpoint, 1 Term (6 Months) Printed Access Card)
43rd Edition
ISBN: 9780357109144
Author: David M. Maloney, William A. Raabe, James C. Young, Annette Nellen, William H. Hoffman
Publisher: Cengage Learning
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If your estimate is that Gravity Computers is going to sell 4,200 units at $35 per piece and each item costs $12, your estimated cost of goods sold in dollars would be: A. $35,400 B. $50,400 C. $147,000 D. None of the above
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Nexus Builders Inc. reported a Cost of Goods Sold (COGS) for the current year of $560,000. During the same period, the Inventory account increased by $25,000, and the Accounts Payable account decreased by $15,000. The amount of cash paid to suppliers for inventory is: A. $520,000 B. $585,000 C. $600,000 D. $535,000
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