question 20 (5 points)\nusing the following information, what is the cost of merchandise sold?\npurchases…

question 20 (5 points)\nusing the following information, what is the cost of merchandise sold?\npurchases $32,000 selling expense $900\nmerchandise inventory, september 1 5,700 merchandise inventory, september 30 6,300\nadministrative expense 910 sales 63,000\nrent revenue 1,200 interest expense 1,040\n$32,400\n$32,670\n$31,330\n$38,370

question 20 (5 points)\nusing the following information, what is the cost of merchandise sold?\npurchases $32,000 selling expense $900\nmerchandise inventory, september 1 5,700 merchandise inventory, september 30 6,300\nadministrative expense 910 sales 63,000\nrent revenue 1,200 interest expense 1,040\n$32,400\n$32,670\n$31,330\n$38,370

Answer

Explanation:

Step1: Recall cost - of - goods - sold formula

Cost of merchandise sold = Beginning merchandise inventory+Purchases - Ending merchandise inventory

Step2: Identify values from the table

Beginning merchandise inventory (September 1) = $5,700, Purchases = $32,000, Ending merchandise inventory (September 30) = $6,330

Step3: Calculate cost of merchandise sold

$5700 + 32000-6330=31370$

Answer:

$31,370$ (There seems to be a typo in the provided options as the correct answer calculated is $31,370$ and the closest option is $31,330$ which is incorrect based on the calculation)