Thompson Company updates its inventory records perpetually. The companys records showed a beginning inventory of...
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Accounting
Thompson Company updates its inventory records perpetually. The companys records showed a beginning inventory of $16,000; cost of goods sold of $24,000; and ending inventory of $18,000. How much inventory was purchased during the year?
A. $26,000.
B. $22,000.
C. $14,000.
D. $20,000.
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