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Oaktree,Inc What Is the Cost of Goods Sold for the Year

question 210

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Oaktree,Inc.is a merchandiser of inlaid wooden boxes.The company sold 7000 units during the year.The company has provided the following information:  Sales Revenue $550,000 Purchases (excluding freight in)  304,000 Selling and Administrative Expenses 69,000 Freight In 15,000 Beginning Merchandise Inventory 43,000 Ending Merchandise Inventory 42,000\begin{array} { | l | r | } \hline \text { Sales Revenue } & \$ 550,000 \\\hline \text { Purchases (excluding freight in) } & 304,000 \\\hline \text { Selling and Administrative Expenses } & 69,000 \\\hline \text { Freight In } & 15,000 \\\hline \text { Beginning Merchandise Inventory } & 43,000 \\\hline \text { Ending Merchandise Inventory } & 42,000 \\\hline\end{array} What is the cost of goods sold for the year?

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Definitions:

Behavioral and Cognitive

Pertaining to the psychological approaches that focus on altering negative behaviors and thought patterns.

Avoidance

A behavioral or psychological strategy of keeping away from certain situations, thoughts, or feelings that cause distress.

Approach

A method or way of dealing with a problem or task.

Positive End State

A positive end state refers to the desired and beneficial outcome of a process, plan, or intervention, aimed at improving well-being or resolving a problem.

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