The wupplies account had a balance of $1,403 at the beginning of the year and was...

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Question

Answer 1

Answer #1

Option a) $2010 is correct.

We know that supplies expenses (Cost of goods sold) is opening supplies plus purchases during the period minus closing supplies,

Opening supplies 1,402

Add: Purchases 3,703

Less: closing suppplies 3,095

Supplies expenses (COGS) $ 2010

Please comment for any additonal explanation.

Thanks

Answer 2

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