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    ydkelly's Avatar
    ydkelly Posts: 4, Reputation: 1
    New Member
    		  
    #1

    Sep 26, 2013, 03:09 PM
    Accounting
    The accounts below need to be sorted into t-accounts both merchandise inventory and cost of goods sold. If anyone could help me figure this out that would be amazing! Thanks,ydkelly
    Cost of merchandise sold to customers in sales transactions $ 196,000
    Merchandise inventory, December 31, 2012 25,000
    Invoice cost of merchandise purchases 192,500
    Shrinkage determined on December 31, 2013 800
    Cost of transportation-in 2,900
    Cost of merchandise returned by customers and restored to inventory 2,100
    Purchase discounts received 1,700
    Purchase returns and allowances 4,000
    codyman144's Avatar
    codyman144 Posts: 544, Reputation: 31
    Senior Member
    		  
    #2

    Sep 27, 2013, 07:50 AM
    Why don't you give it a try and I can help
    ydkelly's Avatar
    ydkelly Posts: 4, Reputation: 1
    New Member
    		  
    #3

    Sep 29, 2013, 09:06 PM
    Because I don't understand it
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