Indicate whether each of these equations applies to a service organization (SER), a retail organization (RET), or
Question:
Indicate whether each of these equations applies to a service organization (SER), a retail organization (RET), or a manufacturing organization (MANF):
1. Cost of Goods Sold – Beginning Merchandise Inventory +
Net Cost of Purchases – Ending Merchandise Inventory
2. Cost of Sale – Net Cost of Services Sold
3. Cost of Goods Sold – Beginning Finished Goods Inventory +
Cost of Goods Manufactured – Ending Finished Goods Inventory
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