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Question - Cal Farms reported supplies expense of $2,700,000 this year. The supplies account decreased by $140,000 during the year to an ending balance of $460,000. What was the cost of supplies the Cal Farms purchased during the year?
a. $3,160,000.
b. $2,560,000.
c. $2,840,000.
d. $2,240,000.
The January 1 inventory of supplies in an Internal Service Fund is $9,000. The fund purchases $23,000 of supplies during the year. The December 31 inventory of supplies is $6,000. If the pricing objective of the fund is to be achieved, what dollar..
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