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Question
Bits & Bytes, Inc., started the month with an inventory of computer hardware and software valued at $68,395.65. During the month, Bits & Bytes bought 16 scanners at a cost of$47.84 each, 24 CD burners at a cost of $37.75 each, and 48 software programs at a cost of$14.95 each. Bits & Bytes': ending inventory of computer hardware and software was valued at $52,936.89. What was the cost of the goods sold?
Solution
VerifiedAnswered 1 year ago
Answered 1 year ago
Step 1
1 of 6Let the beginning inventory be equal to . Furthermore, let the receipts be equal to the sum of the received shipments, while the ending inventory is equal to .
The goal of this exercise is to find the cost of goods sold.
How do we find the cost of goods sold?
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