Chapter 4, Problem 36P

Carrington Trading is a merchandising company. Last month, the company's cost of goods sold was $72,800. The company's beginning merchandise inventory was $24,500, and its ending merchandise inventory was $21,300. What was the total amount of the company's merchandise purchases for the month?

Please provide the solution to this financial accounting question using proper accounting principles.

Can you help me solve this general accounting problem with the correct methodology?