Based upon the following data for a business with a periodic inventory system, determine the cost of merchandise sold for August. $\begin{array}{ll}
\text { Merchandise inventory, August } 1 & \$ 75,560 \
\text { Merchandise inventory, August } 31 & 96,330 \
\text { Purchases } & 373,880 \
\text { Purchases returns \& allowances } & 14,760 \
\text { Purchases discounts } & 10,900 \
\text { Freight-in } & 4,135
\end{array}$

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The Answer of Based upon the following data for a business with a periodic inventory system, determine the cost of merchandise sold for August. $\begin{array}{ll}
\text { Merchandise inventory, August } 1 & \$ 75,560 \
\text { Merchandise inventory, August } 31 & 96,330 \
\text { Purchases } & 373,880 \
\text { Purchases returns \& allowances } & 14,760 \
\text { Purchases discounts } & 10,900 \
\text { Freight-in } & 4,135
\end{array}$

Based Upon the Following Data for a Business with a Periodic