Based on the following data, determine the cost of merchandise sold for July: Merchandise inventory, July 1
Question:
Merchandise inventory, July 1 ...... $ 190,850
Merchandise inventory, July 31 ...... 160,450
Purchases .............. 1,126,000
Purchases returns and allowances ...... 46,000
Purchases discounts ............ 23,000
Freight in ................ . 17,500
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Cost of merchandise sold Merchandise inventory July 1 190850 Purchases ...View the full answer
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Related Book For 
Corporate Financial Accounting
ISBN: 9781337398169
15th Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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