SESSIUILUCator Cost of Merchandise Sold The following schedule of cost of merchandise sold for the current year ended May 31, 2019 contains errors. Cost of merchandise sold: Merchandise inventory, May 31, 2049 $271,250 Purchases $1,531,250 Plus: Purchases returns and allowances Purchases discounts $21,000 14,000 35,000 Gross purchases $1,566,250 Less freight in 26,250 1,540,000 Cost of merchandise purchased Merchandise available for sale Less merchandise inventory, June 1, 2048 Cost of merchandise sold $1,811,250 218,750 $1,592,500 Hide Prepare a corrected schedule of cost of merchandise sold. Cost of Merchandise Sold VaR OVO in.do?takeAssignmentSessionLocator Prepare a corrected schedule of cost of merchandise sold Cost of Merchandise Sold For the Year Ended May 31, 2019 Cost of merchandise sold