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Estimate the cost of goods sold for july

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Question - Fashion House uses the retail method to estimate ending inventory in its monthly financial statements. The following information is available for the month ended July 31.

Sales 200,000.00

Inventory, July 1 171,000.00 300,000.00

Net purchases 90,000.00 150,000.00

Good available for sale 261,000.00 450,000.00

Estimate the cost of goods sold for July?

Reference no: EM131640431

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