At the beginning of September, 2011, GLF Company reported Merchandise Inventory of $4,000.During the month, the company made purchases of $11,700.At September 30, 2011, a physical count of inventory reported $4,800 on hand.Cost of goods sold for the month is

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Beginning Inventory = $4,000
Purchases = $11,700
Total Goods Available = $15,700
Ending Inventory = $4,800
Cost of Goods Sold = Beginning Inventory + Purchases - Ending Inventory
Cost of Goods Sold = $4,000 + $11,700 - $4,800 = $10,900.

At the Beginning of September, 2011, GLF Company Reported Merchandise