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What is Cost of Goods Sold

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Question - A company has a beginning inventory of $20,000 and purchases during the year of $140,000. The beginning inventory consisted of 2,000 units and 7,000 units were purchased during the year. The company has 5,000 units left at year-end. Under average-cost, what is Cost of Goods Sold?

A) $124 ,460

B) $71,120

C) $140,000

D) $160,000

Reference no: EM132494966

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