Solution-Calculate the cost of goods sold for the period

Calculate the cost of goods sold for the period

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Reference no: EM131729996

Accounting inventory questions:

Putter Company had an $18,000 beginning inventory and a $21,000 ending inventory. Net sales were $200,000; purchases, $95,000; purchase returns and allowances, $6,000; and freight in, $8,000.

a) Calculate the Cost of goods sold for the period.

b) What is Putter's gross profit percentage (rounded to the nearest percentage)?

c) What is Putter's rate of inventory turnover?

Reference no: EM131729996

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Calculate the cost of goods sold for the period

Reference no: EM131729996

Reference no: EM131729996

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