A local tire store has beginning merchandise inventory of $37,400 and ending inventory of $26,300. The store purchased $8,500 of additional merchandise for sale during the quarter, returned $720 worth of merchandise damaged during shipment, and received $600 in purchase discounts. What is the cost of goods sold for the tire store?

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The Answer of A local tire store has beginning merchandise inventory of $37,400 and ending inventory of $26,300. The store purchased $8,500 of additional merchandise for sale during the quarter, returned $720 worth of merchandise damaged during shipment, and received $600 in purchase discounts. What is the cost of goods sold for the tire store?

A Local Tire Store Has Beginning Merchandise Inventory of $37,400