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Question
Using the following information, determine the cost of merchandise sold.
| Purchases | $32,000 | Selling expenses | $ 960 | |
| Merchandise inventory, September 1 | 5,700 | Merchandise inventory, September 30 | 6,370 | |
| Administrative expenses | 910 | Sales | 63,000 | |
| Rent revenue | 1,200 | Interest expense | 1,040 |
a. $32,400
b. $32,670
c. $31,330
d. $38,370
Answer
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