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What was the cost of goods sold for the year ended June

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Question - The cost of inventory on hand at 1 July 2011 was $10,000 and at 30 June 2012 was $20,000. Inventory purchases for the year amounted to $150,000, freight outwards expense was $1,000, and purchase returns were $2,000. What was the cost of goods sold for the year ended 30 June 2012?

Reference no: EM132609674

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