In October, Patnode Inc., a merchandising company, had sales of $294,000, selling expenses of $27,000,...
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Accounting
In October, Patnode Inc., a merchandising company, had sales of $294,000, selling expenses of $27,000, and administrative expenses of $35,000. The cost of merchandise purchased during the month was $211,000. The beginning balance in the merchandise inventory account was $38,000 and the ending balance was $34,000.
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