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Seasons has sales of $53,000, beginning inventory of $3,500, purchases of $29,000, and ending inventory of...

Seasons has sales of $53,000, beginning inventory of $3,500, purchases of $29,000, and ending inventory of $8,000. The cost of goods sold is:

A) $32,500.

B) $24,500.

C) $17,500.

D) $20,500.

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Answer #1

cost of goods sold=beginning inventory+ purchases-ending inventory

=3,500+29,000-8000

which is equal to

=$24500

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