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Calculate reid & company''s cost of goods sold

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Reid & Company uses the periodic inventory system. On January 1, it had an inventory balance of $250,000.During the year, it made $613,000 of net purchases. At the end of the year, a physical inventory showed it had ending inventory of $140,000.

Calculate Reid & Company's cost of goods sold for the year.

Reference no: EM13873207

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