Assuming That Net Cost of Purchases Was $58,000 During the Year

question 28

Multiple Choice

Assuming that net cost of purchases was $58,000 during the year and that ending merchandise inventory was $1,000 less than the beginning merchandise inventory of $12,500,how much was cost of goods sold?

• A) $69,500
• B) $71,500
• C) $59,000
• D) $46,500

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