Directions: 1: Calculate COGS in Calculation area HINT - use links/cell referencing 2. Create Journal Entry to record COGS In General Journal area HINT - Debits = Credits 3. Update T- Accounts (these represent the General Ledger Balances 4. Submit through BlackBoard Merchandise Inventory 25,000 COST OF GOODS SOLD Name(s): COGS PRACTICE - Group End Inv Per Warehouse @ end of Period 22,550 Purchases 20,000 Transportation-In 750 Purchases R & A 340 Purchases Discounts Cost of Goods Sold