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Assume that Tracy Company uses a periodic inventory system and has these account balances: Purchases $440,600; Purchase Returns and Allowances $11,980; Purchase Discounts $8,247; and Freight-in $16,900. Tracy Company has beginning inventory of $57,710, ending inventory of $88,110, and net sales of $649,500.
Determine the amounts to be reported for cost of goods sold and gross profit.
Cost of goods sold:
Gross profit:
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Which of the following ratios gives a perspective on risk in the capital structure?
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Outline the options for financing your expansion. Discuss how this decision will impact your company in financial and cultural terms.
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why is inventory important for a business? how is inventory different from other assets of the
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