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Adams Corporation uses a periodic inventory system and the retail inventory method to estimate ending inventory and cost of goods sold. The following data are

Adams Corporation uses a periodic inventory system and the retail inventory method to estimate ending inventory and cost of goods sold. The following data are available for the month of September 2021:

Cost Retail
Beginning inventory $ 23,200 $ 36,800
Net purchases 11,600 ?
Net markups 4,300
Net markdowns 1,300
Net sales ?

The company used the average cost flow method and estimated inventory at the end of September to be $19,894.00. If the company had used the LIFO cost flow method, the cost-to-retail percentage would have been 50%. Required: Compute net purchases at retail and net sales for the month of September using the information provided. (Do not round your intermediate calculations.)

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Adams Corporation uses a periodic Inventory system and the retail Inventory method to estimate ending Inventory and cost of goods sold. The following data are available for the month of September 2021: Beginning inventory Net purchases Net markups Net markdowns Net sales Cost Retail $ 23,200 $36, Bee 11,600 4,300 1,300 The company used the average cost flow method and estimated Inventory at the end of September to be $19,894.00. If the company had used the LIFO cost flow method, the cost-to-retail percentage would have been 50%. Required: Compute net purchases at retail and net sales for the month of September using the information provided. (Do not round your Intermediate calculations.) Answer is not complete. $ 20.200 Net purchases at retail Net sales

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