Exercise $5-11($Algo$)$ Inventory and cost of sales transactions in T$-$accounts LO P$1,$ P$2$

The following summarizes Tesla's merchandising activities for the year.

Cost of merchandise sold to customers

Merchandise inventory, beginning$-$of$-$year

Merchandise purchases, gross amount

Shrinkage on inventory as of year$-$end

Transportation$-$in for merchandise purchases

Cost of merchandise returned by customers $($and restored to inventory$)$

Discounts received from suppliers on merchandise purchases

Returns to and allowances from suppliers on merchandise purchases

$$212,000$

$30,782$

$217,342$

$7902,173$

$2,550$

$1,739$

$4,000$

Enter the summarized activities in the two T$-$accounts below.

Complete this question by entering your answers in the tabs below.

Enter the summarized activities in the T$-$account below.