Question
The following listing summarizes Tesla's merchandising activities for the year. Cost of merchandise sold to customers$278,000 Merchandise inventory, beginning year40,366 Cost of merchandise purchases, gross
The following listing summarizes Tesla's merchandising activities for the year.
Cost of merchandise sold to customers$278,000
Merchandise inventory, beginning year40,366
Cost of merchandise purchases, gross amount285,006
Shrinkage on merchandise as of year-end840
Cost of transportation-in for merchandise purchases2,850
Cost of merchandise returned by customers and restored to inventory2,400
Discounts received from suppliers on merchandise purchases2,280
Returns to and allowances from suppliers on merchandise purchases3,800
Enter the summarized activities in the two T-accounts below.
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