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Question - Laurier Inc. uses the periodic method and reported the following amounts for the year.
Ending inventory $36000
Opening inventory $41500
Sales revenue $150000
Purchases $53000
Purchase discounts $6600
Purchase returns and allowances $5800
Required - Calculate cost of sales for the year.
What is the current ratio for this company? Assume that all balance sheet amounts represent both average and ending balance figures.
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In Huelga's December 31, 2021 balance sheet, at what amount should these goods be included in inventory
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