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Monte Vista uses the perpetual inventory system. At the beginning of the quarter, Monte Vista has $30,000 in inventory. During the quarter the
company purchases $7,900 of new inventory from a vendor, returned $700 of inventory to the vendor, and took advantage of discounts from the
vendor of $200. At the end of the quarter the balance in inventory is $26,500. What is the cost of goods sold?
Multiple Choice
$11,400
$10,500
$3,500
$11,900

Sagot :

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