Exercise 5-9 Effects of merchandising activities on the accountsperpetual Lo3, 4 The following amounts summarize Transeer Company's merchandising activities during 2020. Set up T-accoum Merchandise Inventory and Cost of Goods Sold (see Exhibit 5.13). Then record the activities directly in the a calculate the account balances. Cost of merchandise sold to customers in sales transactions... Merchandise inventory balance, Dec. 31, 2019..... Invoice cost of merchandise purchases....... Shrinkage determined on Dec. 31, 2020....... Cost of transportation-in. Cost of merchandise returned by customers and restored to inventory...... Purchase discounts received... Purchase returns and allowances received.. $180,000 35,000 186,000 31,000 1,900 2,200 1,600 4,100