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Calculation of Cost of Goods Sold: Periodic Inventory System Prepare the cost of goods sold...

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Accounting

Calculation of Cost of Goods Sold: Periodic Inventory System
Prepare the cost of goods sold section for Adams Gift Shop. The following amounts are known:
Beginning merchandise inventory $27,000
Ending merchandise inventory ,22,000
Purchases 78,000
Purchases returns and allowances ,3,900
Purchases discounts 6,000
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