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Cost of Merchandise Sold Based on the following data, determine the cost of merchandise sold for November: Increase in estimated returns inventory $14,500 Merchandise inventory,
Cost of Merchandise Sold Based on the following data, determine the cost of merchandise sold for November: Increase in estimated returns inventory $14,500 Merchandise inventory, November 1 28,000 Merchandise inventory, November 30 31,500 Purchases 475,000 Purchases returns and allowances 15,000 Purchases discounts 9,000 Freight in 7,000 $454,500 X
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