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Business, 30.03.2020 19:03 CarQuestionl506

Cost of Merchandise Sold

Based on the following data, determine the cost of merchandise sold for November:

Increase in estimated returns inventory $14,500
Merchandise inventory, November 1 28,000
Merchandise inventory, November 30 31,500
Purchases 475,000
Purchases returns and allowances 15,000
Purchases discounts 9,000
Freight in 7,000

Calculate the cost of merchandise sold

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Cost of Merchandise Sold

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