Given the following data, what is the cost of purchases? Sales revenue
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Question:
Given the following data, what is the cost of purchases?
Sales revenue $725,000
Cost of goods sold(COGS) 345,000
Ending inventory 250,000
Beginning inventory 120,000
COGS = Beginning inventory + Purchases -Ending Inventory
Related Book For
Financial Accounting
ISBN: 978-0134564142
6th Canadian edition
Authors: Walter Jr. Harrison, Charles T. Horngren, C. William Thomas, Greg Berberich, Catherine Seguin
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