The following information was drawn from the accounts of Standing Corporation which uses the periodic...
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Accounting
The following information was drawn from the accounts of Standing Corporation which uses the periodic inventory system for the current year. In the space below, prepare a Schedule of Cost of Goods Sold in good form (3 points)
Advertising Expense $250
Beginning Inventory 50
Ending Inventory 70
Purchases 600
Purchase Returns & Allowances 70
Salaries Expense 265
Sales Revenue 2,800
Sales Returns & Allowances 275
Transportation In 25
Transportation Out 45
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