A retailer has yearly sales of 800000 inventory on january, Ask an Expert

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A retailer has yearly sales of 800,000. Inventory on January 1st is 300,000 (at cost). During the year 600,000 of merchandise (at cost) is purchased. The ending inventory is 305,000 (at cost). Operating costs are 90,000. Calculate the cost of goods sold and net profit and set up a profit and loss statement. There are no retail reductions in this problem.

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Financial Management, Finance

Category:- Financial Management
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