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What is the cost of goods sold

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Question - Michael uses its periodic inventory system and the following information is available:

Sales $43,400

Inventory-beginning 11,200

Inventory - Ending 9,800

Purchases 32,200

For each step show calculations and final answer

Refer to the information above. What is the cost of goods sold?

Refer to the information above. What is the gross profit?

Reference no: EM132557646

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