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Assume that Pina Colada Corp. uses a periodic inventory system and has these account balances: Purchases $412,400; Purchase Returns and Allowances $11,900; Purchase Discounts $7.900;
Assume that Pina Colada Corp. uses a periodic inventory system and has these account balances: Purchases $412,400; Purchase Returns and Allowances $11,900; Purchase Discounts $7.900; and Freight-in $16,900. Determine net purchases and cost of goods purchased. Net purchases $ Cost of goods purchased $
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