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Accounting

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A company began its fiscal year with inventory of $197.000. Purchases and cost of goods sold for the year were $956,000 and $990,000, respectively. What was the amount of ending inventory? Ending inventory 6 Selected financial statement data for Schmitzer Inc. is shown below: 2021 2020 76,000 64,000 10 points Balance sheet: Inventories Ratios: Gross profit ratio for 2021 Inventory turnover ratio for 2021 50% 7 eBook Print What was the amount of net sales for 2021? References Net sales Walgreens Boots Alliance, Inc., reported inventories of $2,290 million and $2,382 million in its August 31, 2017, and August 31, 2016, balance sheets, respectively. Cost of goods sold for the year ended August 31, 2017, was $29,604 million. The company uses primarily- the LIFO inventory method. A disclosure note reported that if FIFO had been used instead of LIFO, inventory would have been higher by $290 million and $268 million at the end of the August 31, 2017, and August 31, 2016. periods, respectively Calculate cost of goods sold for the year ended August 31, 2017, assuming Walgreens used FIFO instead of LIFO (Enter your answer in millions.) Cost of goods sold million

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