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Compute cost of goods sold using periodic inventory method

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Reference no: EM132691250

The year-end trial balance for your company contains the following normal account balances.

Inventory, beginning of the year $ 32

Inventory, end of the year 44

Purchases 370

Purchase discounts 15

Purchase returns 10

Sales 480

Sales returns and allowances 16

Sales discounts 4

Freight-in 17

Freight-out 13

Problem 1: Compute cost of goods sold using the periodic inventory method

Reference no: EM132691250

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