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Based upon the following data for a business with a periodic inventory system, determine the cost of merchandise sold for August. Merchandise inventory, August 1

Based upon the following data for a business with a periodic inventory system, determine the cost of merchandise sold for August.

Merchandise inventory, August 1 $ 96,910
Merchandise inventory, August 31 101,170
Purchases 283,030
Purchases returns and allowances 14,470
Purchases discounts 6,370
Freight in 3,450

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