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Problem 1: ABC Company had beginning inventory of $15,000 at March 1, 2014. During the month, the company made purchases of $50,000. The inventory at the end of the month is $16,200. What is cost of goods sold for the month of March?
Option 1: $67,300Option 2: $48,800Option 3: $55,000Option 4: $52,300
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