The Westmoreland Corporation uses a periodic system for its inventory. The company starts the current year with
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The Westmoreland Corporation uses a periodic system for its inventory. The company starts the current year with inventory costing $ During the year, an additional $ is paid for inventory purchases and $ for transportation costs to get those items. A physical count at the end of the year finds $ of ending inventory. How was each of these numbers derived? What is the companys cost of goods sold?
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