Question: Assume the same information as in BE5-10 and also that Kowloon Company has beginning inventory (in thousands) of W 60,000, ending inventory of W 90,000,

Assume the same information as in BE5-10 and also that Kowloon Company has beginning inventory (in thousands) of W60,000, ending inventory of W90,000, and net sales of W680,000. Determine the amounts to be reported for cost of goods sold and gross profit.

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