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Question - A company that uses the periodic inventory provides the following information:
1. Beginning Inventory $13,000
2. Net Purchases $93,000
At the end of the period, the physical count of inventory reveals that $10,000 of inventory is on hand. What is the amount of cost of goods sold?
a. 116,000
b. 93,000
c. 83,000
d. 96,000
Prepare a schedule showing physical units of production and Determine the equivalent units of production for materials and conversion costs
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