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Forums › ACCA Forums › ACCA FA Financial Accounting Forums › First year Accounting
Greenwich Pty Ltd reports for 2015
Beginning inventory $36 000
Ending inventory $48 000
Cost of Sales $108 000
Determine the amount of credit purchases for the year?
Once again thank you very much for helping me solve my first questions.
COGS=OPENING INV + PURCHASES – CLOSING INV
simply plug and chug… solve for PURCHASES
