Question

The following data were taken from the general ledger of Owens Booksellers on January 31, the end of the first month of operations in the current fiscal year:
Merchandise inventory, January 1........................................ $ 22,000
Purchases.............................................................................. 183,000
Merchandise inventory, January 31...................................... 17,000
Compute the cost of goods sold for the month of January.


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  • CreatedMarch 31, 2015
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