Computing cost of goods purchased and cost of sales. The data below are for Marvin &

Department Store. The account balances (in thousands) are for 2009.

REQUIRED Compute

(a) cost of goods purchased and

(b) cost of sales.LO1

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Marketing, distribution, and customer-service costs Merchandise inventory, January 1, 2009 $ 37,000 27,000 Utilities General and administrative costs Merchandise inventory, December 31, 2009 Purchases Miscellaneous costs Transportation-in Purchase returns and allowances Purchase discounts 17,000 43,000 34,000 155,000 4,000 7,000 4,000 6,000