Cost of Goods Sold and the Periodic System Kanzu Company uses the periodic inventory system. Kanzu started the period with $5,000 in inventory. The Company purchased an additional $12,500 of merchandise, and returned $500 for a full credit. A physical count of inventory at the end of the period revealed that there was an ending inventory balance of $4,000. What was Kanzu's cost of goods sold during the period? $ Check

Cost of Goods Sold and the Periodic System Kanzu Company uses the periodic inventory system. Kanzu started the period with \$5,000 in inventory. The Company purchased an additional $12,500 of merchandise, and returned $500 for a full credit. A physical count of inventory at the end of the period revealed that there was an ending inventory balance of $4,000. What was Kanzu's cost of goods sold during the period