_{How to calculate the cost of goods sold (the Beg inventory+Purchase-cost of good sold=end inventory?)}

The following amounts appeared on the Mendelstein Company's adjusted trial balance as of October 31, 2020, the end of its fiscal year: Credit Debit $ 1,200 36,000 $ 32, 340 37, 195 2, 600 130 92,400 7, 100 1,085 43, 100 Merchandise inventory Other assets Liabilities Joe Mendelstein, capital Joe Mendelstein, withdrawals Interest income Sales Sales returns and allowances Sales discounts Purchases Purchase returns and allowances Purchase discounts Transportation-in Sales salaries expense Rent expense, selling space Store supplies expense Advertising expense Office salaries expense Rent expense, office space Office supplies expense Totals 1,950 860 4,850 17, 400 8, 800 2,800 8, 600 21, 600 7,200 2,540 $ 164, 875 $ 164, 875 A physical count shows that the cost of the ending inventory is $12,200. 3. Calculate the company's cost of goods sold for the year. Cost of goods sold $ 29,290