Oakland Retail Group begins the year with inventory of $52,000 and ends the year with inventory...

 

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Oakland Retail Group begins the year with inventory of $52,000 and ends the year with inventory of $42,000. During the year, the company has four purchases for the following amounts. Purchase on February 17 Purchase on May 6. Purchase on September 8 Purchase on December 4 Required: Calculate cost of goods sold for the year. Beginning inventory Cost of goods available for sale Cost of goods sold $207,000 127,000 157,000 407,000 $ 52,000 Oakland Retail Group begins the year with inventory of $52,000 and ends the year with inventory of $42,000. During the year, the company has four purchases for the following amounts. Purchase on February 17 Purchase on May 6. Purchase on September 8 Purchase on December 4 Required: Calculate cost of goods sold for the year. Beginning inventory Cost of goods available for sale Cost of goods sold $207,000 127,000 157,000 407,000 $ 52,000

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Beginning Inventory 52000 Purcha... View the full answer