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

Increase in estimated returns inventory $7,900
Merchandise inventory, November 1 13,200
Merchandise inventory, November 30 25,300
Purchases 263,400
Purchases returns and allowances 9,000
Purchases discounts 5,300
Freight in 3,700

Respuesta :

ayokenny2001

Answer:

See below

Explanation:

The computation of the cost of merchandise sold for November is

= Opening inventory + net purchases - ending inventory

Where

Opening inventory = $13,200

Net purchases = $263,400 - $9,000 - $5,300 + $3,700 = $252,800

Ending inventory = $25,300

Merchandise sold = $13,200 + $252,800 - $25,300 = $240,700

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