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Below is a series of cost of goods sold for companies X, L, F, and S
X L F S
Beginning inventory \$ 250 120 1000 \$ (J)
Purchases \$ 1500 1080 (G) 43,590
Purchase returns and allowances \$ 40 (D) 290 ( K)
net purchases \$ (A) 1030 7210 42,090
Freight in \$ 130 (E) (H) 2240
Cost of goods purchased (B) 1230 8050 \$(L)
Cost of goods avail. for sale \$1840 \$1350 (i) 49,530
ending inventory \$310 (f) 1450 6,230
Cost of goods sold \$(c) \$1230 \$7600 \$43,300

A) Fill in the lettered blanks to complete the costs of goods sold.

#### Solution Preview

Below is a series of cost of goods sold for companies X, L, F, and S

X L F S
Beginning inventory \$250 \$120 \$1,000 J
Purchases \$1,500 \$1,080 G \$43,590
Purchase returns and allowances \$40 D \$290 K
net purchases A \$1,030 \$7,210 \$42,090
Freight in \$130 E H \$2,240
Cost of goods purchased B \$1,230 \$8,050 L
Cost of goods ...

#### Solution Summary

The solution calculates cost of goods sold.

\$2.19