O Required information [The following information applies to the questions displayed below.] Nix'It Company's ledger on July 31, its fiscal year-end, includes the following selected accounts th normal balances (Nix'It uses the perpetual inventory system). Merchandise inventory $ 44, 800 Sales returns and allowances $ 5,100 T. Nix, Capital 129,300 Cost of goods sold 109,200 T. Nix, Withdrawals 7,000 Depreciation expense 11, 700 Sales 161, 600 Salaries expense 39,500 Sales discounts 4, 300 Miscellaneous expenses 5,000 A physical count of its July 31 year-end inventory discloses that the cost of the merchandise Inven available is $42,950