Bright Pots and Pans had a beginning inventory of $240,000 at cost. During the month, Bright purchased and received $150,000 in goods and had net sales of $280,000. Throughout the month, Bright maintained a 50% markup on all sales. Compute the cost of goods sold Mason Towel uses the units-of-production method of depreciation. A new knitting machine was purchased for $22,500. It will produce an estimated 800,000 units in its life and has an estimated scrap value of $2,500. It produced 150,000 units in the first year Compute the book value at the end of the first year. Brammer Appliance had a beginning inventory of $40,000 at cost. During the month, Brammer purchased and received $25,000 in goods and had net sales of $50,000. Throughout the month, Brammer maintained a 30% markup on all sales. Compute the cost of goods sold A merchant keeping inventory on cost price had a beginning inventory of $30,000, purchases of $150,000, and an ending inventory of $40,000 Compute the cost of goods sold