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Lewis Company has the following account balances for the current year. Required: Compute the missing amounts. Beginning Merchandise Inventory $ Purchases Purchases Returns and

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Lewis Company has the following account balances for the current year. Required: Compute the missing amounts. Beginning Merchandise Inventory $ Purchases Purchases Returns and Allowances 1,250 Purchase Discounts 1,630 Freight-In 1,700 Cost of Goods Purchased Cost of Goods Available for Sale Ending Merchandise Inventory 324,820 377,820 Cost of Goods Sold 319,820

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