The following summarizes Tesla's merchandising activities for the year.

Cost of merchandise sold to customers

Merchandise inventory, beginning$-$of$-$year

Merchandise purchases, gross amount

Shrinkage on inventory as of year$-$end

Transportation$-$in for merchandise purchases

Cost of merchandise returned by customers $($and restored to inventory$)$

Discounts received from suppliers on merchandise purchases

Returns to and allowances from suppliers on merchandise purchases

$$196,000$

$25,000$

$192,500$

$800$

$2,900$

$2,100$

$1,700$

$4,000$

Enter the summarized activities in the two T$-$accounts below.

Complete this question by entering your answers in the tabs below.

Merchandise

Cost of Goods

Inventory

Sold

Enter the summarized activities in the T$-$account below.

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