Based on the following data, determine the cost of merchandise sold for August: Merchandise inventory, August 1

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


Merchandise inventory, August 1                   $120,000

Merchandise inventory, August 31                  150,000

Purchases                                                         780,000

Purchases returns and allowances                    20,000

Purchases discounts                                         10,000

Freight in                                                          5,000

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Related Book For  answer-question

Accounting

ISBN: 978-0324662962

23rd Edition

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

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