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QUESTION 61 1 point Companies with periodic inventory systems often use techniques such as the...

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Accounting

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QUESTION 61 1 point Companies with periodic inventory systems often use techniques such as the gross profit method and the retail method to: C prepare interim financial statements without taking a complete physical inventory reduce taxable income during a period of rising prices Cincrease gross profit C value inventory at its sales price instead of its cost 10 QUESTION 62 1P QUESTION 65 Soriano Company had net sales of $300,000 for the month (after returns and allowances of $1,500 and sales discount of $3,250). Beginning inventory for the month was $60,000; purchases for the month were $175,000; and gross profit was 43%. Refer to the information above. What was the cost of goods sold for the month? C$171,000 $235,000 $304,750 C$129,000

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