Compute the return on equity of Company P.

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Chapter 14, Problem 10BE

To determine

Compute the return on equity of Company P.

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BrightStar Retailers uses a periodic inventory system. For 2023, its beginning inventory was $85,500, purchases of inventory were $420,000, and inventory at the end of the period was $102,300. What was the amount of BrightStar's cost of goods sold (COGS) for 2023?