Question: Below is an extract from an income statement. $ Beginning inventory 28 000 Gross sales 36 000 Freight-in 2 500 Sales returns 4 000 Ending

Below is an extract from an income statement.

$

Beginning inventory 28 000

Gross sales 36 000

Freight-in 2 500

Sales returns 4 000

Ending inventory 25 200

Purchases 31 600

The cost of sales is:

A.

$29,500
B.

$36,900
C.

$32,000
D.

$34,400

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