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Sholpan [36]
2 years ago
5

Millburg Corp. uses the periodic inventory method. Millburg's beginning inventory is $10,000. During the year, Millburg purchase

s $8,000 of inventory. Ending inventory is $5,000. Cost of goods sold is
Business
1 answer:
Annette [7]2 years ago
6 0

Answer:  $13,000

Explanation:

Given that,

Beginning inventory = $10,000

Inventory purchased = $8,000

Ending inventory = $5,000

Company uses the periodic inventory method,

Cost of goods sold = Beginning inventory + Inventory purchased - Ending inventory

                                = $10,000 + $8,000 - $5,000

                                = $13,000

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