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If a company sells goods that cost $70,000 for $82,000, the firm will:
A. reduce Finished-Goods Inventory by $70,000.
B. reduce Finished-Goods Inventory by $82,000.
C. report sales revenue on the balance sheet of $82,000.
D. reduce Cost of Goods Sold by $70,000.
E. follow more than one of the above procedures.
Could we use managerial accounting "tools" to assess the profitability of an organization other than a manufacturing business, or are the topics we are learning only related to manufacturing?
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