A company's beginning inventory was valued at $15,000. During the year, it made purchases worth...

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Accounting

A company's beginning inventory was valued at $15,000. During the year, it made purchases worth $40,000 and ended with inventory valued at $20,000. What is the Cost of Goods Sold (COGS)?
a) $35,000
b) $55,000
c) $60,000
d) $75,000
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