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Purrfect Pets uses the perpetual inventory system. At the beginning of the quarter, Purrfect Pets...

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Accounting

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Purrfect Pets uses the perpetual inventory system. At the beginning of the quarter, Purrfect Pets has $34,000 in inventory. During the quarter the company purchases $8.500 of new inventory from a vendor, returned $1,100 of inventory to the vendor, and took advantage of discounts from the vendor of $240. At the end of the quarter the balance in inventory is $28,500. What is the cost of goods sold? Multiple Choice O $12,660 $14,500 $14,000 O $5,500

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