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Determine what the cost of sales is

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Reference no: EM132642603

Gross sales: $16,000

Freight-in: $1,000

Sales returns: $1,000

The following data are extracted from the income statement:

Beginning Inventory: $5,000

Ending inventory: $6,100

Purchases: $9,100

Problem 1: The cost of sales is

Select one:

a. $9,000

b. $10,000

c. $6,100

d. $7,000

Reference no: EM132642603

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