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The selected year-end account balances at December 31, 2010, for the Mobile General Store is shown below.
Sales $309,000
Sales Returns and Allowances $15,200
Purchases $114,800
Purchases Returns and Allowances $7,000
Freight-In $5,600
Selling Expenses $56,400
General and Administrative Expenses $37,200
Opening Inventory $28,000
Closing Inventory is $21,000.
The Cost of Goods Purchased is:
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