NSTRUCTIONS Use the information below to answer the following question A store had merchandise inventory of $24.620 on January 1. Net purchases during the year amounted to $43.210 and net sales during the year amounted to $63,635. Operating expenses for the year were $15,875. The merchandise inventory of January 1 of the following year was $21.425. I The cost of the goods sold during the year was $40,015 $43,210 $46,405 O $47,760