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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 | $ 96,850 |
Merchandise inventory, August 31 | 101,050 |
Purchases | 254,410 |
Purchases returns and allowances | 14,840 |
Purchases discounts | 6,440 |
Freight in | 5,380 |
$fill in the blank 1
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