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Do a schedule of cost of goods sold

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Question - The following information was drawn from the accounts of Forward Corporation which uses the periodic inventory system. Do a Schedule of Cost of Goods Sold and a multi-step Income Statement on the forms provided for the current year.

Advertising Expense $300

Beginning Inventory 50

Ending Inventory 65

Purchases 600

Purchase Returns & Allowances 70

Salaries Expense 265

Sales Revenue 2,900

Sales Returns & Allowances 300

Transportation In 25

Transportation Out 35

Reference no: EM132701126

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