A SMALL BUSINESS HAD A STARTING INVENTORY OF $13,000 AND AN ENDING INVENTORY OF $10,000. DURING THE ACCOUNTING PERIOD, THE COMPANY PURCHASED $8,000 IN NEW INVENTORY. WHAT IS THE COST OF GOODS SOLD FOR THE COMPANY
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He observes that work expands so as to fill the time available for its completion.
Opening stock 13000
add purchases 8000
less closing stock (10000)
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