Using the following data and assuming cost of goods sold is $230,000, prepare the cost of goods sold section of a merchandising income statement (periodic inventory system), including computation of the amount of purchases for the month of October: SE-5

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Freight in $12,000 Merchandise inventory, Sept. 30, 20xx 33,000 Merchandise inventory, Oct. 31, 20xx Purchases 44,000 ? Purchases returns and allowances 9,000