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Question
Calculate cost of goods sold for the following two companies:
| CARVER LTD. | PEMBROKE, INC. | |||
| Beginning inventory: | ||||
| Merchandise | $250,000 | |||
| Finished goods | $550,000 | |||
| Cost of goods purchased | 460,000 | |||
| Cost of goods manufactured | 688,000 | |||
| Ending inventory: | ||||
| Merchandise | 128,000 | |||
| Finished goods | 350,000 | |||
Answer
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