Chapter 6: Calculate Cost of Goods Sold using the Key Formula Bobcat Gear Inc. is a merchandising company. Last month the company's merchandise purchases totaled $64,000. The company's beginning merchandise inventory was $34,000 and its ending merchandise inventory was $25,000. Using the Key Formula, calculate the company's Cost Of Goods Sold for the month? Do not just provide the answer. Be sure to show your calculation using the Key Formula. Merchandise inventory purchase transactions - Perpetual Method. Purchased Inventory: On June 16, Bridger Company bought 12 units of merchandise on account from XYZ Company. The purchase cost of the merchandise to Bridger Co. is $700 per unit. Sold Inventory: On June 25 , Bridger Company sold 8 units of merchandise on account to Big Sky Inc. for the selling price of $1,100 per unit. Required: 1. Show the effect of transactions posted to T-accounts for these transactions. 2. Show the effect that the purchase transaction and sales transaction has on the accounting equation. 2) Assets = Labilities + Equity Purchased 12 units @\$700; = on Account: Sold 8 units @ $1,100; = = TOTAL EFFECT: Tha an an anot of ando onld and inventorv a mounte for Cornell Corn for 2022 and 2021 are listed below