What is cost of goods sold relative to this forfeiture, Accounting Basics

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What is cost of goods sold relative to this forfeiture

Clark's Chemical Company received customer deposits on returnable containers in the amount of $100,000 during 2011. Twelve percent of the containers weren't returned. The deposits are based on the container cost marked up 20%. What is cost of goods sold relative to this forfeiture?

A. $10,000

B. $14,400

C. $2,000

D. $0

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Accounting Basics: What is cost of goods sold relative to this forfeiture

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Accounting Basics: What is cost of goods sold relative to this forfeiture

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Accounting Basics: What is cost of goods sold relative to this forfeiture

Reference No:- TGS062627

Recent Questions Asked Accounting Basics

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