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What was the cost of goods available for sale

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Reference no: EM132534607

Question - For the current period, the following data were taken from the accounting records:

Sales $900,000

Sales Returns and Allowances $30,000

Purchases $500,000

Purchase Returns and Allowances $8,000

Discount received $4,000

Freight-in $2,000

Beginning Inventory $90,000

Ending Inventory $130,000

Required - What was the cost of goods available for sale, net purchases and net sales?

Reference no: EM132534607

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