E6-11
Your answer is correct.
Lebo Hardware reported the cost of goods sold as follows:
2008
2009
Beginning Inventory
$20,000
$30,000
Cost of goods purchased
150,000
175,000
Cost of goods available for sale
170,000
205,000
Ending inventory
30,000
35,000
Cost of goods sold
$140,000
$170,000
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- Spring '10
- KAHN
- Financial Accounting, Lebo Hardware
-
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