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 .