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Cost of merchandise sold Based on the following data, determine the cost of merchandise sold for November: Merchandise inventory, November 1 $ 28,000 Merchandise inventory,
Cost of merchandise sold
Based on the following data, determine the cost of merchandise sold for November:
| 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 |
Determine the cost of merchandise sold for November.
Cost of merchandise sold:
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Managerial Accounting
Authors: Libbey Phillips Whitecotton
2nd Edition
1259240908, 978-1259240904
