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    LoveBug19's Avatar
    LoveBug19 Posts: 1, Reputation: 1
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    #1

    Oct 2, 2011, 08:31 PM
    Cost of goods sold?
    On December 1, Discount Electronics Ltd. Has three DVD players left in stock. All are identical, all are priced to sell at $85. One of the three DVD players left in stock, with serial #1012, was purchased on June 1 at a cost of $52. Another, with serial #1045, was purchased on November 1 for $48. The last player, serial #1056, was purchased on November 30 for $43.
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    Oct 3, 2011, 08:36 AM
    Take the cost of the DVD players in beginning inventory + cost of purchases - the cost of the 3 remaining playes to get your Cost Of Goods Sold.

    Your cost of the 3 remaining players is:
    $52 + 48 + 43 = Ending merchandise Inventory
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