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Assume thatAyayaiCompany uses a periodic inventory system and has these account balances: Purchases $452,600; Purchase Returns and Allowances $13,500; Purchase Discounts $9,400; and Freight-In $18,700.
Assume thatAyayaiCompany uses a periodic inventory system and has these account balances: Purchases $452,600; Purchase Returns and Allowances $13,500; Purchase Discounts $9,400; and Freight-In $18,700.
Determine net purchases and cost of goods purchased.
- Net purchases =
- Cost of goods purchased =
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Managerial Accounting
Authors: Wendy M. Tietz, Louis Beaubien, Karen W. Braun
3rd Canadian edition
