Answer:
COGS= $272,000
Explanation:
Giving the following information:
Merchandise inventory, November 1: 14,900
Merchandise inventory, November 30: 28,600
Purchases 298,200
Purchases returns and allowances 10,100
Purchases discounts 6,000
Freight in 4,200
Cost of goods purchased= purchases - Purchases returns and allowances - Purchases discounts + Freight in
Cost of goods purchased= 298,200 - 10,100 - 6,600 + 4,200
Cost of goods purchased= 285,700
COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory
COGS= 14,900 + 285,700 - 28,600= 272,000
