costs of goods sold and gross profit

Practice Assignment Gradebook ORION Downloadable eTextbook signment ES Brief Exercise 5-10 Vour answer is incorrect. Try again. Assume that Pharoah Company uses a periodic inventory system and has these account balances: Purchases $397,500: Purchase Returns and Allowances $10,000; Purchase Discounts $6,600; and Freight-in $16,200. Pharoah Company has beginning inventory of $62,600,, ending inventory of $89,700, and net sales of $654,400. dy Determine the amounts to be reported for cost of goods sold and gross profit. 370400 Cost of goods sold 284000 Gross profit INTERACTIVE TUTORIAL LINK TO TEXT REPEAT QUESTION WITH NEW VALUES Question Attempts: 1 of 3 used JutinaNG A Dhiu &Sons feu All Rigts Re 2000-2019 Jutin Wi