Prepare the cost of goods sold section for Adams Gift Shop. The following amounts are known: Beginning

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Prepare the cost of goods sold section for Adams Gift Shop. The following amounts are known:

Beginning merchandise inventory ....... $26,000

Ending merchandise inventory ........... 23,000

Purchases .................. 71,000

Purchases returns and allowances ........ 3,500

Purchases discounts .............. 5,500

Freight-in ................... 200

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College Accounting

ISBN: 978-0538745192

20th Edition

Authors: Heintz and Parry

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Question Posted: Dec 21, 2011 09:39 AM

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Prepare the cost of goods sold section for Adams Gift Shop. The following amounts are known: Beginning

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