Reference no: EM133187270
Question - The following data pertains to Taylor Company for the year. Compute the cost of goods purchased and cost of goods sold.
Purchases $480,000
Beginning Merchandise Inventory $70,000
Marketing and Advertising Costs $52,000
Shipping of Merchandise to Customers $14,000
General and Administrative Costs $65,000
Ending Merchandise Inventory $84,000
Merchandise Freight-in $20,000
Purchase Returns and Allowances $23,000
Purchase Discounts $25,000
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