In the following cases, use a periodic inventory sys- tem to identify the item(s) designated by the

Question:

In the following cases, use a periodic inventory sys- tem to identify the item(s) designated by the letters X and Y.

(a) Purchases - X - Y = Net purchases.

(b) Cost of goods purchased Net purchases = X.

(c) Beginning inventory +X Cost of goods avail- able for sale. =

(d) Cost of goods available for sale Cost of goods sold = X.AppendixLO1

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