Question: Assume the same information as in BE5-10 and also that Byars Company has beginning inventory of $60,000, ending inventory of $90,000, and net sales of

Assume the same information as in BE5-10 and also that Byars Company has beginning inventory of $60,000, ending inventory of $90,000, and net sales of $730,000. Determine the amounts to be reported for cost of goods sold and gross profit.

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