Scenario

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Part 2

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Part 2

By talking with various other managers at LifeSport, Elke establishes a number of assumptions about the athletic shoe market.She uses those assumptions to project the expected revenues and costs in her budget.To calculate expected operating income for next year, Elke knows she'll need to subtract expected costs from expected revenues—and that the expected costs include the cost of goods sold.But she's not sure which items to include in the cost of goods sold.

What should Elke include in the cost of goods sold section?

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