Question: Using the data set below, how much is cost of goods sold under the periodic method? Accounts payable 1/31 50,000 Beginning inventory 1/1 60,000

Using the data set below, how much is cost of goods sold

Using the data set below, how much is cost of goods sold under the periodic method? Accounts payable 1/31 50,000 Beginning inventory 1/1 60,000 Ending inventory 1/31 50,000 Freight-in 5,000 Purchases 25,000 Purchase discounts 3,000 Purchase returns & allowances 4,000 Sales 85,000 A. $33,000 B. $47,000 c. $57,000 D. $28,000

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