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How do demonstrate what is the cost of goods sold

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Question 1: Monte Vista uses the perpetual inventory system. At the beginning of the quarter, Monte Vista has $49,000 in inventory. During the quarter the company purchases $10,750 of new inventory from a vendor, returned $1,100 of inventory to the vendor, and took advantage of discounts from the vendor of $390. At the end of the quarter the balance in inventory is $36,000. What is the cost of goods sold?

Reference no: EM132604362

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