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Find cost of sales for the year

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Reference no: EM132822499

Zed Ltd reported the following amounts for the year under periodic method.

Ending inventory $40,000, Opening inventory $41,500, Sales revenue $1,14,000.

Purchases made= $77,000

Purchase discounts =$7,000

Purchase returns and allowances= $5,800

Problem 1: Cost of sales for the year.

Reference no: EM132822499

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