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Salvadore Inc., a local retailer, has provided the following data for the month of September:
Merchandise inventory, beginning balance |
$ 66,420 |
Merchandise inventory, ending balance |
$ 65,600 |
Sales |
$ 410,000 |
Purchase of merchandise inventory |
$ 205,000 |
Selling expense |
$ 24,600 |
Administrative expense |
$ 82,000 |
The cost of goods sold for September was: |