Based on the following data, determine the cost of merchandise sold for November: Estimated returns of November sales $14,500 Inventory, November 1 28,000 Inventory, November 30 31,500 Purchases 475,000 Purchases returns and allowances 15,000 Purchases discounts 9,000 Freight in 7,000 $fill in the blank 1

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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    Cost of goods sold

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


    Estimated returns of November sales $14,500
    Inventory, November 1 28,000
    Inventory, November 30 31,500
    Purchases 475,000
    Purchases returns and allowances 15,000
    Purchases discounts 9,000
    Freight in 7,000

    $fill in the blank 1

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