When calculating Cost of Goods Sold on the Income Statement,the beginning and ending inventory values are both required.

Name: When calculating Cost of Goods Sold on the Income Statement,the beginning and ending inventory values are both required.
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To calculate the Cost of Goods Sold on the Income Statement, the beginning and ending inventory values are both required as the formula for COGS is Beginning inventory + Purchases - Ending inventory.

When Calculating Cost of Goods Sold on the Income Statement,the