Available under Creative Commons-NonCommercial-ShareAlike 4.0 International License.
Consider the following information:
|
Opening inventory |
$ 375 |
|
Purchases |
2,930 |
|
Purchase discounts |
5 |
|
Purchase returns and allowances |
20 |
|
Transportation-in |
105 |
Ending inventory amounts to $440.
Required: Calculate cost of goods sold.
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