X Company is a merchandiser. It incurred the following costs in 2019: ...
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Accounting
X Company is a merchandiser. It incurred the following costs in 2019:
| Equipment rental | $15,328 | ||
| Merchandise purchases | 86,863 | ||
| Utility costs | 21,962 | ||
| Warehouse costs | 38,050 | ||
| Employee salaries | 11,550 | ||
| Advertising costs | 16,129 | ||
| Insurance costs | 24,170 | ||
| Supply costs | 14,357 | ||
| Miscellaneous operating costs | 16,898 | ||
The Merchandise Inventory account had a January 1 balance of $39,670 and a December 31 balance of $10,277. What was Cost of Goods Sold in 2019?
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