recording effects of merchandising activities

The following supplementary records summarize Tosca Company 's merchandising activities for year2013 . Set up T-accounts for Merchandise Inventory and Cost of Goods Sold. Then record the summarized activities those T-accounts and compute account balances. Cost of merchandise sold to customers in sales transactions $ SI96.000 Merchandise inventory. December 31,2012 $25.000 Invoice cost of merchandise purchases $192.500 Shrinkage determined on December 31.2013 $800 Cost of transportation-in $2.900 Cost of merchandise returned by customers and restored to inventory $2.100 Purchase discounts received $1,700 Purchase returns and allowances $4000