assume that sheridan company uses a periodic inventory system and it has these account balance purchases 395,000 purchase return and allowances 11,900 purchase discount 7600 and freight and 17,400 Sheridan company has beginning inventory of 62,000 ending inventory of 85,700 and net sales of 645,000

CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Brief Exercise 5-10 Your answer is incorrect. Try again. Assume that Sheridan Company uses a perlodic Inventory system and has these account balances Allowances $11,900; Purchase Discounts $7,600; and Freight-in $17,400. Sheridan Company has beginning inventory of $62,000, ending of $85,700, and net sales of $645,000. : Purchases $395,000; Purchase Returns and inventoy Determine the amounts to be reported for cost of goods sold and gross proft Cost of goods sold s Gross profit