Question: Based on the following data, determine the cost of merchandise sold for June: Merchandise inventory, June 1 $ 35,500 Merchandise inventory, June 30 40,500 Purchases

Based on the following data, determine the cost of merchandise sold for June:


Merchandise inventory, June 1           $ 35,500

Merchandise inventory, June 30          40,500

Purchases                                             384,000

Purchases returns and allowances        11,000

Purchases discounts                             3,000

Freight in                                              6,000

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