After analyzing the data, (a) compute nete income and (b) complete a comprehensive income statement for the year ending December 31, 2017
BE5-8 Silas Company sold goods with a total selling price of $800,000 during the year. It purchased goods for $380,000 and had beginning inventory of $67,000. A count of its ending inventory determined that goods on had was $50,000. What was its cost of goods sold?
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