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Nieman Inc., a local retailer, has provided the following data for the month of March: Merchandise inventory, beginning balance $43,300 Merchandise inventory, ending balance $45,600 Sales $263,000 Purchases of merchandise inventory $142,800 Selling expense $19,500 Administrative expense $53,100 The cost of goods sold for March was a. $142,800 b. $140,500 c. $145,100 d. $215,400

Nieman Inc., a local retailer, has provided the following data for the month of March: Merchandise inventory, beginning balance $43,300 Merchandise inventory, ending balance $45,600 Sales $263,000 Purchases of merchandise inventory $142,800 Selling expense $19,500 Administrative expense $53,100 The cost of goods sold for March was a. $142,800 b. $140,500 c. $145,100 d. $215,400

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Nieman Inc., a local retailer, has provided the following data for the month of March: Merchandise inventory, beginning balance $43,300 Merchandise inventory, ending balance $45,600 Sales $263,000 Purchases of merchandise inventory $142,800 Selling expense $19,500 Administrative expense $53,100 The cost of goods sold for March was a. $142,800 b. $140,500 c. $145,100 d. $215,400
Transcribed Image Text:Nieman Inc., a local retailer, has provided the following data for the month of March: Merchandise inventory, beginning balance $43,300 Merchandise inventory, ending balance $45,600 Sales $263,000 Purchases of merchandise inventory $142,800 Selling expense $19,500 Administrative expense $53,100 The cost of goods sold for March was a. $142,800 b. $140,500 c. $145,100 d. $215,400
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