At the end of last year, Helen's, Inc. (uses a perpetual inventory system) had merchandise costing $115,000 in inventory

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At the end of last year, Helen's, Inc. (uses a perpetual inventory system) had merchandise costing $115,000 in inventory

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At The End Of Last Year Helen S Inc Uses A Perpetual Inventory System Had Merchandise Costing 115 000 In Inventory 1
At The End Of Last Year Helen S Inc Uses A Perpetual Inventory System Had Merchandise Costing 115 000 In Inventory 1 (54.14 KiB) Viewed 10 times
At the end of last year, Helen's, Inc. (uses a perpetual inventory system) had merchandise costing $115,000 in inventory. During January of the current year, the company purchased merchandise costing $35,000, and sold merchandise which it had purchased at a total cost of $55,000. Based on the foregoing information, the amount of costs transferred from the Inventory account to the Cost of Goods Sold account during January was:
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