Part 130 Points The following listing summarizes XYZ Co. merchandising activities for the year. Cost of merchandise sold to customers $278,000 Merchandise inventory, beginning year 40,366 Cost of merchandise purchases, gross amount 285,006 Shrinkage on merchandise as of year-end 840 Cost of transportation-in for merchandise purchases 2,850 Cost of merchandise returned by customers and restored to inventory 2,400 Discounts received from suppliers on merchandise purchases 2,280 Returns to and allowances from suppliers on merchandise purchases 3,800 Instructions: 1. Use the Worksheet provided. 2. Insert your Name and ID 3. Use Tab 1 to complete/apply your Answer for the question below 4. Enter the summarized activities in the two T-accounts Part 130 Points The following listing summarizes XYZ Co. merchandising activities for the year. Cost of merchandise sold to customers $278,000 Merchandise inventory, beginning year 40,366 Cost of merchandise purchases, gross amount 285,006 Shrinkage on merchandise as of year-end 840 Cost of transportation-in for merchandise purchases 2,850 Cost of merchandise returned by customers and restored to inventory 2,400 Discounts received from suppliers on merchandise purchases 2,280 Returns to and allowances from suppliers on merchandise purchases 3,800 Instructions: 1. Use the Worksheet provided. 2. Insert your Name and ID 3. Use Tab 1 to complete/apply your Answer for the question below 4. Enter the summarized activities in the two T-accounts