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Kingbird Corporation uses a periodic inventory system and the gross method of accounting for purchase discounts. (a) On July 1, (1) Kingbird purchased $77,000 of

Kingbird Corporation uses a periodic inventory system and the gross method of accounting for purchase discounts. (a) On July 1, (1) Kingbird purchased $77,000 of inventory, terms 2/10, n/30, FO...

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