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Cost of Merchandise Sold Based on the following data, determine the cost of merchandise sold for July: Increase in estimated returns inventory $34,900 Merchandise inventory,
Cost of Merchandise Sold
Based on the following data, determine the cost of merchandise sold for July:
| Increase in estimated returns inventory | $34,900 |
| Merchandise inventory, July 1 | 190,850 |
| Merchandise inventory, July 31 | 160,450 |
| Purchases | 1,126,000 |
| Purchases returns and allowances | 46,000 |
| Purchases discounts | 23,000 |
| Freight in | 17,500 |
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ISE Managerial Accounting Creating Value In A Dynamic Business Environment
Authors: Ronald Hilton, David Platt
12th Edition
1260566390, 9781260566390
