Evergreen Retailers, a local store, has provided the following data for the month of July: Category Amount ($) Beginning Merchandise Inventory $50,200 Sales Ending Merchandise Inventory Purchases of Merchandise Inventory $160,500 $47,800 $295,000 Selling Expense Administrative Expense $22,000 $58,500 What is the Cost of Goods Sold (COGS) for July?

Evergreen Retailers, a local store, has provided the following data for the month of July: Category Amount ($) Beginning Merchandise Inventory $50,200 Sales Ending Merchandise Inventory Purchases of Merchandise Inventory $160,500 $47,800 $295,000 Selling Expense Administrative Expense $22,000 $58,500 What is the Cost of Goods Sold (COGS) for July?

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter6: Accounting For Merchandising Businesses

Section: Chapter Questions

Problem 38E: Based on the following data, determine the cost of merchandise sold for July:

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