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Assume that Tracy Company uses a periodic inventory system and has these account balances: Purchases $368, 800; Purchase Returns and Allowances $11, 520; Purchase Discounts

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Assume that Tracy Company uses a periodic inventory system and has these account balances: Purchases $368, 800; Purchase Returns and Allowances $11, 520; Purchase Discounts $8, 190; and Freight-in $16, 530. Determine net purchases and cost of goods purchased. Net purchases $ Cost of goods purchased $

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