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The Coach Store sells designer bags. The following information relates to a special category of...

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Accounting

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The Coach Store sells designer bags. The following information relates to a special category of handbags. a) Calculate the Cost Of Goods Sold assuming the company uses a perpetual system and moving average cost formula. b) Assume the same information as above, except now the company uses a periodic system for inventory. A physical count indicated there was $36,000 of inventory on hand at December 31 . Record the journal entry for the periodic system

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