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How much would be debited to Cost of Goods of Sold

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Question - Clement Limited uses a periodic inventory system. The final inventory count showed that there was $54412 of inventory on hand at the end of the year. The general ledger has the following account balances as at December 31, 20x6:

Inventory 81779

Purchases 354092

In the entry to close out the temporary accounts above, how much would be debited to Cost of Goods of Sold?

a. $435871

b. $381459

c. $326725

d. $349985

Reference no: EM132896868

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