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If a company sells goods that cost $70,000 for $82,000, the firm will:

A. reduce Finished-Goods Inventory by $70,000.

B. reduce Finished-Goods Inventory by $82,000.

C. report sales revenue on the balance sheet of $82,000.

D. reduce Cost of Goods Sold by $70,000.

E. follow more than one of the above procedures.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9418305

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