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  1. business
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  3. for the current fiscal year, purchases were $245,0

For the current fiscal year, Purchases were $245,000, Purchase Returns and Allowances were $8,600, Purchase...

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Accounting

For the current fiscal year, Purchases were $245,000, Purchase Returns and Allowances were $8,600, Purchase Discounts were $2,200 and Freight In was $32,000. If the beginning merchandise inventory was $60,000 and the ending merchandise inventory was $75,000, the Cost of Goods Sold is: $266,200 $281,200 $272,800 $251,200

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