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Purrfect pets uses the perpetual inventory system at the

Problem

Purrfect Pets uses the perpetual inventory system. At the beginning of the quarter, Purrfect Pets has $32,000 inventory. During the quarter the company purchases $8, 200 of new from a vendor, returnee $900 of inventory to the vendor, and took advantage of discounts from the vendor of $220. At the end of the quarter the balance in inventory is $27, 500. What is the cost of goods sold?

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Accounting Basics: Purrfect pets uses the perpetual inventory system at the

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