Assume that Bramble Corp. uses a periodic inventory system and has these account balances: Purchases $407,600, Purchase Returns and Allowances $14,800, Purchase Discounts $10,500, and Freight-In $16,000. Determine net purchases and cost of goods purchased. Net purchases Cost of goods purchased $

Assume that Bramble Corp. uses a periodic inventory system and has these account balances: Purchases $407,600, Purchase Returns and Allowances $14,800, Purchase Discounts $10,500, and Freight-In $16,000. Determine net purchases and cost of goods purchased. Net purchases Cost of goods purchased