Question

Russell Retail Group begins the year with inventory of $63,800 and ends the year with inventory of $41,500. During the year, the company has four purchases for the following amounts:
Purchase of February 17 ........ $292,100
Purchase of May 6 ........... 148,200
Purchase of September 8 ....... 392,800
Purchase of December 4 ........ 92,400

Required:
Calculate cost of goods sold for the year.



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  • CreatedJuly 15, 2014
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