If a taxpayer has beginning inventory of $45,000, purchases of $175,000, and ending inven tory of $25,000,
Question:
If a taxpayer has beginning inventory of $45,000, purchases of $175,000, and ending inven tory of $25,000, what is the amount of the cost of goods sold for the current year?
a. $155,000
b. $180,000
c. $175,000
d. $195,000
e. None of the above
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Related Book For
Income Tax Fundamentals 2023
ISBN: 9780357719527
41st Edition
Authors: Gerald E. Whittenburg, Steven Gill
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