Cost of goods soldmerchandiser LO 2 The following data were taken from the general ledger of Gary

Question:

Cost of goods sold—merchandiser LO₂ The following data were taken from the general ledger of Gary Merchandisers on January 31, the end of the first month of operations in the current fiscal year:

Merchandise inventory, January I 17,000 Purchases 1 83,000 Merchandise inventory, January 31 22,000 Compute the cost of goods sold for the month of January.

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