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A company, using the periodic inventory system, has merchandise inventory costing $910 on hand at the beginning of the period. During the period, merchandise costing $750 is purchased. At year-end, merchandise inventory costing $590 is on hand. The cost of merchandise sold for the year is. What is the formula?

1 Answer

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  • ?
    Lv 6
    1 decade ago
    Favorite Answer

    beginning inventory + purchases - ending year inventory = cost of merchandise sold

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