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What is the amount of cost of goods sold

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Reference no: EM133030846

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

Reference no: EM133030846

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