Required information. 2 of 2 [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 that have normal balances (Nix'It uses the perpetual inventory system). Merchandise inventory Retained earnings Dividends Sales Sales discounts $ 37,800 115,300 7,000 Sales returns and allowances Cost of goods sold $ 6,500 105,000 160,200 Depreciation expense Salaries expense 10,300 32,500 4,700 Miscellaneous expenses 5,000 A physical count of its July 31 year-end inventory discloses that the cost of the merchandise inventory still available is $35,900