Chapter HW Sco 9 of 10 (8 complete) X Data Table $ 37,000 Marketing, distribution, and customer-service costs 27,000 Merchandise inventory, January 1, 2017 17,000 Utilities 43,000 General and administrative costs Merchandise inventory, December 31, 2017 34,000 Purchases 155,000 al Miscellaneous costs 4,000 Transportation-in 7,000 Purchase returns and allowances 4,000 th Purchase discounts 6,000 Revenues 280,000 Print Done urchased ny list or enter any number in the input fields and then click Check Answer Clear All Check Answ search Calculate the cost of goods purchased by completing the schedule. (If a box is not us mpty,do not select a label or enter a zero.) Marvin Department Store Schedule of Cost of Goods Purchased For the Year Ended December 31, 2017 (in thousands) Beginning merchandise inventory 1/1/2017 Ending merchandise inventory 12/31/2017 General and administrative expenses Marketing, distribution, and customer-service costs Miscellaneous costs Purchase discounts Purchase return and allowances C Purchases s and then click Check Answer Transportation-in Utilities Clear All e Type here to search -34 (book/static) e following data are for Marvin Department Store. The account balances (in thousands) are for 2017 (Click the icon to view the account balances) equirements . Compute (a) the cost of goods purchased and (b) the cost of goods sold 2. Prepare the income statement for 2017 Requirement 1. Compute (a) the cost of goods purchased and (b) the cost of goods sold. (a) Calculate the cost of goods purchased by completing the schedule. (If a box is not used in the schedule, lea empty, do not select a label or enter a zero.) Marvin Department Store Schedule of Cost of Goods Purchased For the Year Ended December 31, 2017(in thousands) Add Deduct Cost of goods purchased Choose from any list or enter any number in the input fields and then click Check Answer 2 parts remaining Clear All Check Answer Type here to search