For the current fiscal year, Purchases were $250,000, PurchaseReturns and Allowances were $4,000 and Freight In was $19,000. Ifthe beginning merchandise inventory was $160,000 and the endingmerchan For the current fiscal year, Purchases were \( \$ 250,000 \). Purchase Returns and Allowances were \( \$ 4,000 \) and Freight In was \( \$ 19,000 \). If the beginning merchandise inventory was \( \$ 1 2 answers