Based upon the following data, determine the cost of merchandise sold for July:
|
Merchandise inventory, July 1 |
$ 88,370 |
|
Merchandise inventory, July 31 |
92,120 |
|
Purchases |
681,400 |
|
Purchases returns and allowances |
9,250 |
|
Purchases discounts |
7,000 |
|
Transportation in |
3,180 |