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Assume that Gallant Company uses a periodic inventory system and has these account balances: Purchases $463,060, Purchase Returns and Allowances $12,440, Purchase Discounts $8,490, and
Assume that Gallant Company uses a periodic inventory system and has these account balances: Purchases $463,060, Purchase Returns and Allowances $12,440, Purchase Discounts $8,490, and Freight-In $ 16,950. Determine net purchases and cost of goods purchased. ases $ Net purchases Cost of goods purchased
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