i de goe as sold profit under a stem AP PS-7A At the end of Oates Department Store's fiscal year on N ovember 30, 2017, these accounts appeared in its ad usted trial balance. Freight-In Inventory (beginning) Purchases Purchase Discounts Purchase Returns and Allowances Sales Revenue Sales Returns and Allowances s 5,060 41,300 613,000 7,000 6,760 902,000 20,000 1. Inventory on November 30, 2017, is $36,200 2. Note that Oates Department Store uses a periodic system Instructions Prepare an income statement through gross profit for the year ended November 30, 2017 Gross profit $272,600