Question

The following information is available for ABC Company for the year ended
December 31, 1997:
Ending Inventory …………………………. $7,500
Purchases …………………………………. 31,000
Transportation-in …………………………. 1,500
Beginning Inventory ……………………… 6,000
Sales returns & allowances ……………….. 2,500

Determine the cost of goods sold for 1997.

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