= Homework: Chapter 2 Homework */ * O O Question 13, P2-35 (similar to) Part 1 of 3 HW Score: 39.82%, 11.95 of 30 points Points: 0 of 2 Save The following data are for Michael Department Store. The account balances (in thousands) are for 2020. (Click the icon to view the account balances.) Requirements 1. Compute (a) the cost of goods purchased and (b) the cost of goods sold. 2. Prepare the income statement for 2020. Requirement 1. Compute (a) the cost of goods purchased and (b) the cost of goods sold. (a) Calculate the cost of goods purchased by completing the schedule. Michael Department Store Schedule of Cost of Goods Purchased For the Year Ended December 31, 2020 (in thousands) Add: Deduct: Clear all Check answer Help me solve this Etext pages Get more help - Question list K Data table Question 10 * Question 11 Marketing, distribution, and customer-service costs $ 37,000 Merchandise inventory, January 1, 2020 24,000 Utilities 14,000 General and administrative costs 47,000 R Merchandise inventory, December 31, 2020 38,000 * Question 12 (a Purchases 159,000 Miscellaneous costs 4,000 Transportation-in 8,000 Question 13 Question 14 Question 15 Purchase returns and allowances Purchase discounts Revenues 6,000 8,500 315,000 Junction 10 Help me solve this Etext pages Get more help - Print Done - X 2020