Question: Shaquille Corporation began the current year with inventory of 50 000
Shaquille Corporation began the current year with inventory of $50,000. During the year, its purchases totaled $110,000. Shaquille paid freight charges of $8,500 for these purchases. At the end of the year, Shaquille had inventory of $47,800. Prepare a schedule to determine Shaquille’s cost of goods sold for the current year.
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