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Daniel Jackson is the owner of ABC Cleaning. At the beginning of the year, Jackson had $2,400 in inventory. During the year, Jackson purchased inventory that cost $13,000. At the end of the year, inventory on hand amounted to $3,600.
Required
Calculate the following.
a. Cost of goods available for sale during the year.b. Cost of goods sold for the year.c. Inventory amount ABC Cleaning would report on its year-end balance sheet.
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