At the Beginning of 2012,Calston Incorporated Reports Inventory of $9,000

question 72

Essay

At the beginning of 2012,Calston Incorporated reports inventory of $9,000.During 2012,the company purchases additional inventory for $25,000.At the end of 2012,the cost of inventory remaining is $8,000.Calculate cost of goods sold for 2012.

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Definitions:

Decision Support Systems

Computer-based systems used by organizations to support decision-making processes.

Business Decisions

Choices made by businesses concerning strategic direction, operations, and policies with the aim of achieving organizational goals.

Knowledge Management

This is the process of creating, sharing, using, and managing the knowledge and information of an organization.

Databases

Organized collections of structured information or data, typically stored electronically in a computer system.