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For the current fiscal year, Purchases were 275,000, purchase returns and allowances were $8,500, Purchase discounts were $2,500 and Freight in was $35,000. If the

For the current fiscal year, Purchases were 275,000, purchase returns and allowances were $8,500, Purchase discounts were $2,500 and Freight in was $35,000. If the beginning merchandise inventory was $63,000 and the ending merchandise was $81,000, the cost of goods sold is:

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