Michael uses its periodic inventory system and the following information is available: Sales $ 49,500 Beginning Inventory 10,600 Ending Inventory 9,200 Purchases 32,000 What is the gross profit?

Michael uses its periodic inventory system and the following information is available: Sales $ 43,400 Inventory-Beginning 11,200 Inventory-Ending 9,800 Purchases 32,200 7. Required information What is the cost of goods sold? $43,400.

Explanation:

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The federal reserve took an expansionary approach during the crisis. this was done by expanding the money supply and boosting liquidity. this can be seen in the fed's actions of lending to banks, purchasing securities, and lowering the federal funds rate in order to lower overall interest rates. the fed's goal was to increase consumer spending and overall liquidity within the system, and they pursued this by expanding the supply of liquid money.

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