Which of the following formulas represents the proper method of calculating cost of goods sold? a. Beginning
Question:
Which of the following formulas represents the proper method of calculating cost of goods sold?
a. Beginning inventory + Ending inventory − Purchases
b. Ending inventory − Purchases − Beginning inventory
c. Purchases − Beginning inventory − Ending inventory
d. Beginning inventory + Purchases − Ending inventory
e. None of the above
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Related Book For
Income Tax Fundamentals 2017
ISBN: 9781305872738
35th Edition
Authors: Gerald E. Whittenburg, Steven Gill, Martha Altus Buller
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