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Calculate the cost of goods sold for abc ltd

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Question - ABC Ltd. uses the periodic inventory system and has the following information for 2016.

Sales $2,000,000

Beginning Inventory 500,000

Purchases 120,000

Ending Inventory 200,000

Calculate the cost of goods sold for ABC Ltd. in 2016?

a. $2,420,000

b. $620,000

c. $420,000

d. $200,000

Reference no: EM132158251

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