Hickory Furniture Company paid the following costs during the month of May: Inventory purchases $40,000; Advertising costs
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Question:
- Hickory Furniture Company paid the following costs during the month of May:
- Inventory purchases $40,000;
- Advertising costs $8,000;
- Shipping costs $2,000.
- Hickory sold $32,000 of inventory and agreed to pay warranty fees for his customers.
- These are expected to be $1,600 and occur evenly over the next four months (i.e, starting in June).
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