Question: John's 2015 income statement information. How much will John report as the cost of goods sold in its 2015 income statement? Net purchases $8,667 Inventory,

John's 2015 income statement information. How much will John report as the cost of goods sold in its 2015 income statement?

Net purchases

$8,667

Inventory, January 1, 2015

6,500

Inventory, December 31, 2015

4,000

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