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A company is preparing its financial statements and needs to complete the following calculations using the given data: Beginning Inventory: $60,000 Ending Inventory: $90,000 Purchases during the year: $400,000 Sales Revenue: $600,000 Sales Returns and Allowances: $30,000 Operating Expenses: $150,000 Interest Expense: $20,000 Income Tax Rate: 25%
The company uses the periodic inventory system. Calculate the Cost of Goods Sold (COGS).
Sagot :
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