Haar Inc. is a merchandising company. Last month the company\'s cost of goods sold was $61,000. The company\'s beginning merchandise inventory was $11,000 and its ending merchandise inventory was $21,000. What was the total amount of the company\'s merchandise purchases for the month? $61,000 $51,000 $71,000 $93,000 Solution Merchandise purchase = Ending merchandise + Cost of goods sold .

1. Haar Inc. is a merchandising company. Last month the company's cost of goods sold was
$61,000. The company's beginning merchandise inventory was $11,000 and its ending
merchandise inventory was $21,000. What was the total amount of the company's merchandise
purchases for the month?
$61,000
$51,000
$71,000
$93,000
$61,000
$51,000
$71,000
$93,000
Solution
Merchandise purchase = Ending merchandise + Cost of goods sold