Question: A company, using the periodic inventory system, has merchandise inventory costing $210 on hand at the beginning of the period. During the period, merchandise costing

A company, using the periodic inventory system, has merchandise inventory costing $210 on hand at the beginning of the period. During the period, merchandise costing $635 is purchased. At year-end, merchandise inventory costing $145 is on hand. The cost of merchandise sold for the year is

	a.	$685
	b.	$795
	c.	$700
	d.	$635

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