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# Cost of Goods Sold under Periodic Inventory System

FINACT-EGCK6E

Please calculate the cost of goods sold for a retailer based on the information provided below. This retailer uses the periodic inventory system.

Purchases $500,000 Beginning Inventory 100,000 Purchase Discounts 10,000 Purchase Returns 30,000 Freight-In 10,000 Ending Inventory 90,000 A \$460,000

B

\$90,000 C \$480,000

D

\\$570,000