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What is the t-account for cost of goods sold

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The following summarizes Tesla's merchandising activities for the year.

Cost of merchandise sold to customers$183,000

Merchandise inventory, beginning year 26,572

Cost of merchandise purchases, gross amount 187,612

Shrinkage on merchandise as of year-end 820

Cost of transportation-in for merchandise purchases 1,876

Cost of merchandise returned by customers and restored to inventory 2,600

Discounts received from suppliers on merchandise purchases 1,501

Returns to and allowances from suppliers on merchandise purchases 4,400

Problem 1: What is the T-account for cost of goods sold?

Reference no: EM132842342

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