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Figure 6-6
-Refer to Figure 6-6.Which of the following statements is correct?
Ending Inventory
The total value of all the goods remaining unsold at the end of an accounting period.
Cost of Goods Sold
Costs directly connected with the manufacture of goods a company sells, including both materials and workforce expenses.
Beginning Inventory
The value of all the inventory held by a business at the start of an accounting period.
Net Sales
The amount of sales revenue left after deducting sales returns, allowances, and discounts.
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