Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN: 9781337788281
Author: James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher: Cengage Learning
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Provide this question solution general accounting

GOI Inc. begins the year with inventory of $51,200 and ends the
year with inventory of $44,300. The following table shows the
amounts that were recorded during the year. Calculate the cost of
goods sold.
Sales
$900,000
Sales returns and allowances 6,700
Sales discounts
15,000
Purchases
582,300
Operating expenses
212,000
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Transcribed Image Text:GOI Inc. begins the year with inventory of $51,200 and ends the year with inventory of $44,300. The following table shows the amounts that were recorded during the year. Calculate the cost of goods sold. Sales $900,000 Sales returns and allowances 6,700 Sales discounts 15,000 Purchases 582,300 Operating expenses 212,000
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