The following supplementary records summarize Tosca Company's merchandising activities for year 2015. Assume Tosca Company uses a perpetual inventory system.

TEST CHAPTERS 5 & 6 Question 3 (of 12) 3. value: points 10.00 Exercise 5-9 Recording effects of merchandising activities LO P1, P2 The following supplementary records summarize Tosca Company's merchandising activities for year 2015. Assume Tosca Company uses a perpetual inventory system. $169,000 Cost of merchandise sold to customers in sales transactions 24,539 Merchandise inventory, December 31, 2014 Invoice cost of merchandise purchases 173,259 830 Shrinkage determined on December 31, 2015 1,733 Cost of transportation-in Cost of merchandise returned by customers and restored to inventory 2,450 1,386 Purchase discounts received Purchase returns and allowances 4.000 Record the summarized activities in the T-accounts below. Merchandise Inventory instructions I help E Save & Exit Submit