Streif Inc., a local retailer, has provided the following data for the month of June: Merchandise inventory, beginning balance$46,000Merchandise inventory, ending balance$52,000Sales$260,000Purchases of merchandise inventory$128,000Selling expense$13,000Administrative expense$40,000The cost of goods sold for June was:
A. $134,000
B. $122,000
C. $128,000
D. $181,000
Answer: B
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