If a taxpayer has beginning inventory of $45,000, purchases of $175,000, and ending inven tory of $25,000,

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If a taxpayer has beginning inventory of $45,000, purchases of $175,000, and ending inven tory of $25,000, what is the amount of the cost of goods sold for the current year?

a. $155,000

b. $180,000

c. $175,000

d. $195,000

e. None of the above

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Income Tax Fundamentals 2023

ISBN: 9780357719527

41st Edition

Authors: Gerald E. Whittenburg, Steven Gill

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Question Posted: Feb 28, 2023 05:27 AM

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If a taxpayer has beginning inventory of $45,000, purchases of $175,000, and ending inven tory of $25,000,

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Income Tax Fundamentals 2023

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