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A company has $125 per unit in variable costs and $175,000 per year in fixed costs. The company wants a markup of 40%. What is the selling price when demand is 3,500 units.
High Ridge Merchandising Co. sold inventory that had a cost of $10,000. Assuming High Ridge uses the perpetual inventory method, the effect of the journal entry to record Cost of Goods Sold would:
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How would you make the journal entries using the 4% discount rate?
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