Beth's Jewels Cost of Goods Sold Cost of goods sold: Cost of goods sold %24 %24
Use the following information to prepare the cost of goods sold section of the income statement for Beth's Jewels.
| Beginning merchandise inventory | $41,000 |
| Ending merchandise inventory | 34,000 |
| Purchases | 52,000 |
| Purchases returns and allowances | 4,700 |
| Purchases discounts | 1,300 |
| Freight-in | 900 |
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