Haack Inc.is a merchandising company.Last month the company's cost of goods sold was $84,000.The company's beginning merchandise inventory was $20,000 and its ending merchandise inventory was $18,000.What was the total amount of the company's merchandise purchases for the month?

A) $86,000
B) $82,000
C) $84,000
D) $122,000

Merchandise Purchases

Transactions involving the buying of goods for resale by a retailer, wholesaler, distributor, or similar entity.

Merchandise Inventory

Goods that a company holds for the purpose of resale in the ordinary course of business, often considered as current assets on the balance sheet.

Cost of Goods Sold

Expenses directly arising from the production of goods a company offers for sale, involving labor and materials.