At the end of last year, Games-2-Use had merchandise costing $240,000 in inventory. During January of the
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At the end of last year, Games-2-Use had merchandise costing $240,000 in inventory. During January of the current year, the company purchased merchandise costing $138,000, and sold merchandise that it had purchased at a total cost of $124,000. Games-2-Use uses a perpetual inventory system. The amount of goods transferred from the inventory account to the cost of goods sold account during January was?
Related Book For
South Western Federal Taxation 2016 Corporations Partnerships Estates and Trusts
ISBN: 9781305399884
39th edition
Authors: James Boyd, William Hoffman, Raabe, David Maloney, Young
Posted Date: