Multiple Choice
Croggins Cane Company has a beginning balance in its inventory account of $15,000 and the ending balance is $10,000. Cost of goods sold is $80,000. According to the cost of goods sold model, what was the amount of inventory purchased during the year?
A) $55,000
B) $75,000
C) $70,000
D) $65,000
Correct Answer:
Verified
Correct Answer:
Verified
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