Question: Choco's 2020 income statement information. How much will Choco report as the cost of goods sold in its 2020 income statement? Net purchases $5,360 Inventory,

Choco's 2020 income statement information. How much will Choco report as the cost of goods sold in its 2020 income statement? Net purchases $5,360 Inventory, January 1, 2020 6,500 Inventory, December 31, 2020 4,000

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