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If a Company Had $3,500 in Inventory on Hand at the End

Question 27

Multiple Choice

If a company had $3,500 in inventory on hand at the end of the month, and made purchases of $7,500 during the month, the Cost of Goods Sold they should record on their Income Statement for the month would be:


A) $ 7,500
B) $ 4,000
C) $ 3,500
D) $11,000

Correct Answer:

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