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Posted by: Annie kavitha
Price Quoted by Student: $1.5
Posted On: 2010-07-20 02:02:47

One company's accounting records for the year ended Dec 31

a-         Sales revenues                                                 $585,000

b-         Sales Discounts                                    $3000

c-         Purchases                                             420,000

d-         Purchase returns and allowances         $5000

e-         Inventory (Jan 1)                                 $33000

f-         Inventory (Dec 31)                              $37000

g-         Operating expense                               $146,000

h-         Retained Earnings (Jan 1)                    71,000


Calculate cost of goods sold for the year

SOLUTION   Cost of goods sold = Beginning I
Price $1.5
Attachment 1: One company's.doc
Solution Posted By: Annie kavitha    Posted on: 20-07-2010