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Home Q & A Board Other Fields Homework Help Business Accounting
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H3Ko H3Ko
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7 years ago
Calculate the cost of goods sold for a merchandiser using the periodic inventory system from the following details. 

Purchases   $510,000
Beginning Merchandise Inventory   175,000
Purchase Returns and Allowances   50,000
Purchase Discounts   12,000
Freight In   18,000
Ending Merchandise Inventory   160,000

A) $510,000
B) $481,000
C) $801,000
D) $499,000
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
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7 years ago
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H3Ko Author
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#2
7 years ago
YES! Can't believe I got this one right. Appreciate the confirmation
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