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Prepare the cost of goods sold section for Adams Gift Shop

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Reference no: EM132722147

Problem - Prepare the cost of goods sold section for Adams Gift Shop. The following amounts are known:

Beginning merchandise inventory $27,000

Ending merchandise inventory 22,000

Purchases 78,000

Purchases returns and allowances 3,900

Purchases discounts 6,000

Freight-in 350

Reference no: EM132722147

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