Exercise 4-8 Inventory and cost of sales transactions in T-accounts LO P1, P2 The following summarizes Tesla's merchandising activities for the year. $ 196,000 25,000 192,500 800 Cost of merchandise sold to customers Merchandise inventory, beginning year Cost of merchandise purchases, gross amount Shrinkage on merchandise as of year-end Cost of transportation-in for merchandise purchases Cost of merchandise returned by customers and restored to inventory Discounts received from suppliers on merchandise purchases Returns to and allowances from suppliers on merchandise purchases 2,900 2,100 1,700 4,000 Enter the summarized activities in the two T-accounts below. Complete this question by entering your answers in the tabs below. Merchandise Cost of Goods Inventory Sold Enter the summarized activities in the T-account below. Cost of Goods Sold