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Financial Accounting Midterm - Part 3 of 3!
SAMPLE
This is a sample practice set. In order to have a more personalized exam prep experience:
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5. Inventory / Inventory Errors / Problem 2
Problem 2

A company has a beginning inventory of \$60,000, purchases of \$80,000, and an incorrect ending inventory of \$45,000. Calculate the incorrect cost of goods sold for the first year.