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[The following information applies to the questions displayed below.] The following selected information was extracted...

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Accounting

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[The following information applies to the questions displayed below.] The following selected information was extracted from the 201 accounting records of Lone Oak Products: -Seventy-five percent of the company's building was devoted to production activities; the remaining 25 percent was used for selling and administrative functions. Inventory data: -The January 1 and December 31 finished-goods inventory consisted of 1,350 units and 1,190 units, respectively PR 2-38 (Algo) Part 3: Compute the company's cost of goods sold. 3. Compute the company's cost of goods sold

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