The cost of goods sold computations for Alpha Company and Omega Company are shown below. Alpha Company Omega Company Beginning inventory $ 49,500 $ 71,000 Cost of goods purchased 200,000 299,000 Cost of goods available for sale 249,500 370,000
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On July 1, 20x1, Fox Co. purchased as a held-to-maturity investment $5,000,000 of Owl, Inc.'s 8% bonds for $4,580,000, including accrued interest of $50,000. The bonds were purchased to yield 10% interest.
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