Exercise 6.8 Relationships within Periodic Inventory Systems (LO6-4) This exercise stresses the relationships between the information recorded in a periodic inventory system and the basic elements of an income statement. Each of the five lines represents a separate set of information. You are to fill in the missing amounts. (Enter loss amounts as a negative number.) Beginning Invento Net Purchases Ending Invento Cost of Net Income or (Loss) Net Sales Gross Profit Expenses 76,000 71,000 210,000 35,200 95,200 240,000 570,000 630,000 800,000 104,000 72,000 290,000 20,000 264,000 441,000 160,000 135,000 250,000 189,000 234,000 130,000 C. 160,000 450,000 250,000 156,000 400,000 (15,000)