Explain the cost of goods sold, Accounting Basics

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Explain the cost of goods sold

The Rondo Company had a beginning inventory of $12,500, net purchases of $23,500, and a physical count ending inventory of $14,000. Sales were $40,000. Unfortunately, an error in the ending inventory was found which understated the ending inventory by $2,000. If the error had not been made, cost of goods sold?

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Accounting Basics: Explain the cost of goods sold

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Accounting Basics: Explain the cost of goods sold

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