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    Cost of Goods Sold in a Merchandising Company

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    My business is a merchandising company. Last month the company's merchandise purchases totaled $86,000. The company's beginning merchandise inventory was $15,000 and its ending merchandise inventory was $11,000. What was the company's cost of goods sold for the month?

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    Cost of goods sold is given as
    Opening ...

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    The solution explains the calculation of cost of goods sold.