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ACC 231 Exam 2 Test Prep 2022-2023
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March 2023
2022/2023
A
ACC 231
Exam 2 Test Prep
2022-2023
Multiple Choice
Identify the choice that best completes the statement or answers the question.
1. West, Inc. had beginning inventory of $10,000, purchases of $25,000 and ending inventory of $5,000. What is West's cost of merchandise sold?
a. $10,000
b. $25,000
c. $5,000
d. $30,000
2. If a company purchased $2,000 of merchandise on account and paid for it during the discount period with the terms of 2/10, n/30, and the company uses the ...
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