Computing cost of goads purchased and cast of goods sold. The following data are for Marvin Department Store. The account balances (in thousands) are for 2008.

Compute (1) the cost of goods purchased and (2) the cost of goodssold.

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$37,000 Marketing, distribution, and customer-service costs Merchandise inventory, January 1, 2008 27,000 Utilities 17,000 General and administrative costs 43,000 Merchandise inventory, December 31, 2008 34,000 155,000 Purchases Miscellaneous costs 4,000 Transportation-in 7,000 Purchase returns and allowances 4,000 Purchase discounts 6,000