Armstrong Creation uses a periodic inventory system. During the current year, the company had purchases of $245,000. You are to compute the cost of goods sold under each of the following alternative assumptions.

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A No beginning inventory, ending inventory $18,000. B Beginning inventory $15,000; no ending inventory...... ......... Cost of Goods Sold $ $ A No beginning inventory, ending inventory $18,000. B Beginning inventory $15,000; no ending inventory...... ......... Cost of Goods Sold $ $

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