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Prepare the cost of goods sold section for Carol's Gift Shop. The gift shop uses the periodic inventory system Beginning merchandise inventory $29,000 Ending merchandise

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Prepare the cost of goods sold section for Carol's Gift Shop. The gift shop uses the periodic inventory system Beginning merchandise inventory $29,000 Ending merchandise inventory $27,000 Purchases $62,000 Purchases returns & allowances $2800 Purchases discounts $3400 Freight-in $300

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