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Using the following data taken for a business with a periodic inventory system. Merchandise Inventory August 1 $ 97,190 Merchandise Inventory August 31 102,920 Purchases

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Using the following data taken for a business with a periodic inventory system. Merchandise Inventory August 1 $ 97,190 Merchandise Inventory August 31 102,920 Purchases 283,670 Purchases Returns and Allowances 14,850 Purchases Discounts 6,870 Freight In 4,750 Determine the cost of merchandise sold for August. $

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