Current Attempt in Progress Assume that Pharoah Company uses a periodic inventory system and has these account balances: Purchases $392,700, Purchase Returns and Allowances $12,300, Purchase Discounts $8,800, and Freight-In $15,300. Determine net purchases and cost of goods purchased. Net purchases Cost of goods purchased $ $ I

Current Attempt in Progress Assume that Pharoah Company uses a periodic inventory system and has these account balances: Purchases $392,700, Purchase Returns and Allowances $12,300, Purchase Discounts $8,800, and Freight-In $15,300. Determine net purchases and cost of goods purchased. Net purchases Cost of goods purchased