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Aggie Corp. is a merchandising company that uses the periodic inventory system. Selected account balances are listed below: Sales Revenue $150,000 Purchases 90,000 Inventory (beginning)

Aggie Corp. is a merchandising company that uses the periodic inventory system. Selected account balances are listed below: Sales Revenue $150,000 Purchases 90,000 Inventory (beginning) 20,000 Inventory (ending) 14,000 Purchase Returns & Allowances 5,000 Purchase Discounts 7,000 Freight-In 4,000 Sales Discounts 8,000 Sales Returns & Allowances 5,000 Freight-Out 2,000 What is the amount of Aggie's gross profit? Group of answer choices $53,000 $49,000 $62,000 $47,000 $51,000

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