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  3. for the current fiscal year, purchases were $260,0

For the current fiscal year, Purchases were $260,000, Purchase Returns and Allowances were $8,200, Purchase...

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Accounting

For the current fiscal year, Purchases were $260,000, Purchase Returns and Allowances were $8,200, Purchase Discounts were $2,200 and Freight In was $32,000. If the beginning merchandise inventory was $61,500 and the ending merchandise inventory was $78,000, the Cost of Goods Sold is:

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