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Unsure how to get toal cost of merchandise purchased. Please show work Valley Company's adjusted trial balance on August 31, 2017, its fiscal year-end, follows
Unsure how to get toal cost of merchandise purchased. Please show work
Valley Company's adjusted trial balance on August 31, 2017, its fiscal year-end, follows Credit Debit s 30,500 122,000 Merchandise inventory Other (noninventory) assets Total liabilities Common stock Retained earnings Dividends Sales Sales discounts Sales returns and allowances Cost of goods sold Sales salaries expense Rent expense-Selling space Store supplies expense Advertising expense Office salaries expense Rent expense-0ffice space Office supplies expense Totals $ 35,228 10,000 93,147 8,000 208,620 3,192 13,769 81,497 28,581 9,805 2,503 17,733 26,078 2,503 834 $346,995 $346,995 On August 31, 2016, merchandise inventory was $24,614. Supplementary records of merchandising activities for the year ended August 31, 2017, reveal the following itemized costs Invoice cost of merchandise purchases Purchases discounts received Purchases returns and allowances Costs of transportation-in $89,670 1,883 4,304 3,900Step by Step Solution
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