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Calculate the cost of goods sold for a merchandiser using the periodic inventory system from the following details. Purchases $540,000 Beginning Merchandise Inventory 180,000 Purchase
Calculate the cost of goods sold for a merchandiser using the periodic inventory system from the following details.
Purchases $540,000
Beginning Merchandise Inventory
180,000 Purchase Returns and Allowances
60,000 Purchase Discounts
16,000 Freight In 17,000
Ending Merchandise Inventory 160,000
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