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Unformatted text preview: Computation of cost of goods sold Finished goods inventory, beginning $130.00 Add: Cost of goods manufactured $580.00 Goods available for sale $710.00 Deduct: Finished goods inventory, endinG $165.00 Cost of goods sold $545.00 Income Statement Sales $820.00 Less: Cost of goods sold $710.00 Gross margin $110.00 Less: Administrative expenses $180.00 Less: Selling expenses $140.00 Net operating income-$210.00...
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This note was uploaded on 10/08/2011 for the course ACCOUNTING AC 505 taught by Professor Russ during the Spring '11 term at Keller Graduate School of Management.
- Spring '11