The following information pertained to Azur Co. for the year: Purchases: $102,800 Purchase discounts: $10,280 Freight in: $15,420 Freight out: $5,140 Beginning inventory: $30,840 Ending inventory: $20,560 What amount should Azur report as cost of goods sold for the year?
a. $102,800
b. $118,220
c. $123,360
d. $128,500
Answer: B) $118,220
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What will be an ideal response?