Multiple Choice
A company using the periodic inventory system has inventory costing $210 on hand at the beginning of a period. During the period, merchandise costing $635 is purchased. At year-end, inventory costing $160 is on hand. The cost of goods sold for the year is
A) $795
B) $685
C) $265
D) $635
Correct Answer:
Verified
Correct Answer:
Verified
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