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At the beginning of September, 2010, GLF Company reported Merchandise Inventory of $4,000. During the month, the company made purchases of $7,800. At September 31,

At the beginning of September, 2010, GLF Company reported Merchandise Inventory of $4,000. During the month, the company made purchases of $7,800. At September 31, 2010, a physical count of inventory reported $3,200 on hand. Cost of goods sold for the month is

$8,600.

$600.

$11,800.

$7,800.

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