Business
Business, 06.01.2021 18:00, genyjoannerubiera

Based on the Information that follows, prepare the cost of goods sold section of a multiple-step income statement. Merchandise Inventory, January 1, 20-- $37,000
Estimated Returns Inventory, January 1, 20-- 1,000
Purchases 102,000
Purchases Returns and Allowances 4,200
Purchases Discounts 2,040
Freight-In 800
Merchandise Inventory, December 31, 20-- 28,500
Estimated Returns Inventory, December 31, 20-- 3,500

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