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Question - The following information is available for Renteria Manufacturing Company for the month ending March 31, 2008:
Cost of goods manufactured $265,000
Selling expenses 85,000
Administrative expenses 45,000
Sales 540,000
Finished goods inventory, March 1 60,000
Finished goods inventory, March 31 55,000
For the month ended March 31, 2008 determine Renteria's:
1. Cost of goods sold
2. Gross profit
3. Net income
What has the city included in the introductory section of its CAFR? What significant accounting policies are discussed in the first note?
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